Eventually I realized I needed hard skills and went to grad school and got a M.S. in Business Analytics and it was one of the best decisions of my adult life.

The conventional mortgage lender sent an appraiser who realized that there is an issue.

Yes I do realize that I have been lured into a less than ideal situation.

Now that I have a property manager, I heard the %18 and believed that to be the total expense without realizing the additional (cleaning fee, lawn care, state taxes, pool care), etc...so the effective rate is much larger and my net take home much less than I anticipated.

Realize also you have ongoing costs for each LLC that you set up, Yearly resident agent fees, possibly fees to have your meeting minutes prepared on a yearly basis, Tax preparation fees for each LLC Shell, and You're 1040, etc...

Most investors who start with SFH realize that they could have started with multifamily, but had a ton of limiting beliefs around taking the leapGino

Assuming the property is appraised at $650,000.00 I am hoping the equity will get my LVT to 75% eliminating the PMI, adding to the potential cash flow when I go to rent and then putting that cash flow + personal savings away to raise capital to buy another piece of property.I realize that in order to buy my next piece of property I will want to put down 20% to avoid PMI and a high mortgage but saving 20% for a piece of property in my area is going to take some time due to the high price ranges $500,000-$700,000.

Plan on 18-24 months before you realize positive cash flow. 

You called me 4 months ahead of when that hard money loan matures b/c you are smart and realize that time is money.For the 2nd option, it lists "7/25, 10 year maturity." 

I realize this is an old thread, but would like to know if meetups are still alive and well in the Prattville area.