I drive a chopped up, modded-out, twice-totaled Toyota pickup that is perpetually dirty, but I work in the agricultural real estate niche so it's normal and borderline expected you have a capable vehicle with some dirt on it...

Create a legal description of the easement (usually need a survey to be binding), attach that easement to property #1's covenants in perpetuity, record the documents.

Was on the MLS and got stereotyped as a bad property because the agent messed up the lock box and the property didn't sell in one weekend How did you finance this deal?

But my guess is that @Michael Gessner is correct since I understand there is a stereotype that many wholesalers aren't skilled at estimating rehab costs.

Fortunately, I'm not one of the perpetually offended!

Often times what happens is that if a new owner does not raises rents they are eventually forced to sell due to frustration, lack of profit etc.It is much better for your tenants that a small business that cares about their community owns the property vs you having to sell in the future to a big corporation that will raise rents in perpetuity and not make repairs at all.Not sure this was the advice you are looking for but hope it helps.

Hi, just a thought…The seller could consider first selling the property to an irrevocable trust where he is the discretionary trustee, the trust then sells the property to you, and then he/trustee can elect to defer any capital gains, perpetually, and draw the funds down at his discretion against the Demand Note (liability due to him from “selling” property into the trust…which had no cash at inception).

I would do as many brrrr’s as possible and recycle that capital into perpetuity.

Readjust priorities and lower expectations  and let common sense application wins at the end of the day.This is being said in the context of being financially responsible and chat a good course and not finding yourself perpetually struggling as a result of an oversight or lack of knowledge.

We chose Dayton for several reasons:- The stereotypical midwest "low cost of entry" market- Smaller local market with less competition- Still good cashflow and positive market dynamics (population and job growth, etc.)- We had a few contacts up there that we either already knew personally or came highly recommended and allowed us to quickly build a strong, trusted team right away (David talks a lot about the importance of a strong Team/"Core 4" in his book and on the BP RE Podcast)- Downside:  we're not seeing anywhere near the appreciation that "hotter" markets throughout the country, such as Denver, Austin, etc. have been seeing over the past few yearsLet me know if you have any other questions I can help with!