Another foolish notion is that cash flow is profit.

The info the Groves provided at the REIA was "okay" for someone new to the industry but I've always rejected the notion that one can learn enough from "group training" unless there is sufficient time walking each individual through 4 or 5 transactions.

Not so much for recommending the inspector, this could have been a new guy, a one off mistake, whatever.....but the notion of "don't worry about it now, we'll reinspect at the final walk through".....say what!?  

The notion of permitting ADUs was introduced in 2018 by Lightfoot’s predecessor, Rahm Emanuel, as a way to spur creation of new affordable housing options in increasingly expensive neighborhoods, particularly those where single-family homes predominate.Osterman said ADUs are a way to “create more housing options” that may suit single people, young adults returning to live with their parents, and retirees.While his proposal had been scheduled to go up for a vote July 21, Osterman said it'll be postponed after several aldermen expressed strong opposition at a hearing Friday that lasted more than three hours.

Disclosure: I am not a wholesaler.What gets me about this thread, is the notion that realtors are somehow more ethical than wholesalers.

I think there's a misplaced notion of risk as this evil thing that should be avoided at all costs.

BTW…I second the notion that you need to be careful taking advice from people on message boards.

Some of the real sharks on BP are probably laughing at the notion that someone wouldn't pull out every penny from their 401k versus adding rental property.

My first question is how did you arrive at the notion that you and your parents "need" an LLC? 

So is buying a negative appreciation property (even if cash flow is positive), and yet I see this from newbies buying out of state turnkey properties every single day here on BP because people perpetuate (and have a vested interest in perpetuating) the absurd notion that you are magically somehow safe from any and all risk if you have positive cash flow day one, and equity doesn't matter, and if you factor in appreciation into your projections you are a speculator.Rent does not equal cash flow and cash flow does not equal profit.