And the tax write-offs make your W2 Earnings a lot higher in take home pay.10.

I have aspirations to own my own brokerage/ investment company and possibly build but most of all make a substantial impact in the community!

I have aspirations to own my own brokerage/ investment company and possibly build but most of all make a substantial impact in the community!

Lucky I was in a bull REI market and was able to sell at a substantial profit.This was a very very hard lesson to learn, and like @James Wise stated above, your best course of action now is to file eviction notices for these tenants ASAP, and wish for the best with the proceedings. 

Or get out now before a market correction leading to substantial drop in value?

I met my savings goal, sold my house at a profit, and moved in with family so I could reduce my monthly spending and have substantial liquidity to purchase my first deal.

I'd be interested in taking a look at your condo as a purchase as well depending on location, etc in town.

.--- Sidenote: we transitioned from hiring of LVP/vinyl/ceramic/hardwood to handling in-house which has shaved our costs substantially from the above budget averages.  

Work must be done with licensed contractors and completed within 180 days after closing.The loan is based on purchase price plus rehab funds, which are drawn down as work progresses.They also include a reserve 10% minimum for potential budget overruns.3.5% down is based on the total amount borrowed.You also have to pay closing costs, which are substantially higher than a traditional FHA loan.

I had not intention of setting up an LLC until I had a more substantial portfolio, so this seemed like a good choice.