Quote from @Rhett Tullis: Quote from @Russell Brazil:  yep that does it, we lost our home in 99 in an f5 when I was younger,  no close calls recently in OKC though,  also seems like tornado alley has shifted a bit to the east but who knows.I actually have heard of this in my research, that tornado alley is (slowly) shifting away from the Great Plains and into more of the Midwest—although I haven’t seen the underlying data to verify this myself. 

this means that these owners are under much less pressure to sell, and so they don't really care that their price won't let the property be a good rental. 

Here in Florida, you first obtain your RE license and work under a Broker for two years. 

@Amanda Bradley Tenant sounds like typical Class C with a credit score under 620.How hard was it to find this tenant?

If the money is not held according to local landlord tenant law and/or was was spent (either intentionally or unintentionally), that act would be treated as an exclusion no different than under any other insurance policy.

U invest in the fund and there is no debt ahead of you you own the debt free and clear the only risk is they buy the wrong debt and the underlying collateral does not support the investment.. which is why you go with folks that have a lot of experience in the space and now how to value the collateral.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If anyone else has a favorite strategy or tool they use to keep tax prep under control, I’d love to hear it!

I use a schedule E and do not have an LLC or business name, so can I purchase the vehicle under my personal name and take section 179?