There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If you own a 2-flat with an additional non-conforming garden unit (basement) being rented, and you're considering a cash-out refinance, how will the lender evaluate the rental income?

Was able to get a meeting with the seller and negotiated using evolving knowledge of construction and deal analysis in addition to discovering seller motivation through direct contact.

So yeah, my experience has been outstanding and they customer service has been exemplary.

You qualify due to their experience and then now you have that experience too.

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

Here's what they said: "Sadly, BiggerPockets has decided to currently remove the app while we focus on making the website a better experience for our members.

@Emily Shin landlord experience is invaluable for a career in rental real estate.It's not something you may want to do long term, but the experience can help you select and manage PMCs.

It would just need to be a situation where they have great contact with the person doing that managing of the project (I.e. have known the person for years, great reputation, person has experience in flipping etc.).

What is your mentorship experience and background?