Hello,I was wondering if I could get some advice on this 4 plex. http://m.mrishomes.com/mobile/homes-for-sale/317-w-sunset-ave-greensboro-md-21639-200990078Seems like good cash flow and it has been recently renovated.

I would like to draw on my background which includes a bachelor's degree in Mechanical Engineering, control system design, sales and proposal writing.

I have pics but am not sure how to post on mobile app.

The LLC is simply the reporting mechanism to record the property's sale and to determine how much of the the resultant tax gain from the property's sale gets reported to each LLC partner/member on the Schedule K-1 issued them by the LLC.The partnership should receive the sales proceeds (it presumably made the sale - correct?) 

Is there space rent for the mobile home in addition to the $90 HOA costs?

Builders warranty is also something that looks great for an investor. 1 year covers materials and workmanship2 year coverage on all mechanical/ electrical and plumbing 5 year leak protection internal or exterior infiltration 10 year structural Love to hear thoughts on buying new construction?

How you ultimately financed it, upfront when you purchased it (or how you might refinance it later) is irrelevant.Just do a simple search on the internet for depreciating rental real estate property, you will find a virtually limitless number of sources that can explain basic depreciation mechanics - its not rocket science.

While the mechanics are easy, the repercussions can be significant.

So he had no wealth build up.The only way I see your strategy working is if the properties are never paid off or if you are buying properties that do not appreciate at all (mobile homes).

I'm on mobile so I'm having difficulty tagging everyone but thank you all for your recommended life changing book!