No need to worry about the LLC until you have a deal or so under belt, it's always good to have that LLC in place but if your strapped for cash finding deals is the best way to start. 

Please do not comment if your first thought is “well just pick yourself up by the boot straps and try harder,” bc you obviously have never experienced this real problem that plagues people.

After a bunch of recent repairs and replacing one, I'm going to speed queen.I price mine just as others have stated, about .25 less than the laundry mat nearest the building.

Seems like a classic mom/pop story trying to to retire.The property has 33 units plus an effeciency apartment that used to be the laundry mat. 28 units are rented, there are no property owned trailers.

So the 1% rule doesn't work due to higher taxes, more like 1.25% here.If I want to pull out 100% of my investment, or as close to it my net cash flow will be $0-$100/m at best.I'd like to brrrr to 10 SFHs.

If your strapped for money then networking and hitting the phones or door knocking makes sense.

My suggestion to you is to read "The Book on Investing in Real Estate with No (and Low) Money Down" if you are strapped for cash.

@Mat O'GradyThank you for your input!

1) Basement Bathroom waste discharge needs setup2) Replacement of improper basement "escape window"3) Insulation of exposed water supply lines outside of both basement windows to prevent freezing pipe damage4) Replacing the utility room door with one more appropriately sized and bringing it forward to touch the concrete to minimize water entry5) Repair open seems noted at second floor balcony to prevent water damage6) Repair backyard sliding door which does not close (safety hazard for forced entry)7) S-trap in upper, lower master and half bathroom sink waste lines need repair to allow for proper drainage/venting.8) Boiler condensation drain line installation needed9) Repair leaking pipe in utility room to prevent water damage/mold10) Door does not latch at front entry (safety hazard)11) Unable to lock windows at upper living room repair needed for security/energy conservation

The management company charges for everything including $25.00 to change each light bulb, fees for hanging elevator walls with mats when tenants move etc.