Please be respectful and share any advice.Pics belong to respected owners and I will try to link them to where I got them from........................................................................................................................................................................................California Town was 95% burned down with over 6700 structures destroyed and is still growing in size.

At any rate, I will respectfully decline their invite because we genuinely won't be able to attend, but I want to send some type of gift to them. 

Hello BP,I had a bunch of questions regarding LLCs - e.g. liability issues, tax implications of owning assets via LLCs (in-state or out of state), etc.1) I wanted to know that as a first step (with respect to the legal/liability issues) , what kind of attorney should I be contacting for advice?

We get lots of city folk who do not know how to manage (or respect) the heat, fireplaces, firepits, cell phones not working, departure times, etc.  

This doesn't even count the lost income while the home sits empty during your renovations.With all due respect, this is just one example of how things could (and likely will) go bad and you don't have the knowledge or experience necessary to handle owner financing.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

I have come to believe that in order for each party to meet their respective objectives both sides must meet in the "reasonable" middle.

The conversation about leverage shouldn't be brushed over.Positively leveraging an asset is much different than negatively leveraging that asset.Also, you need to factor in how much leverage you have with respect to how big your reserves are.Being 52 means you're half way home, I doesn't mean you're close to retirement.... or that you need to play it safe.

Although struggling in this area of the city to retain respectable and renters that pay on time or pay at all.

Y5:  3,000 + 12,000 <-- Rental Cash flow for Year 5 + Sales Proceeds----------IRR = 11% <-- RESPECTABLE RETURN !!!!