I would get a couple of other opinions on the quotes that are coming in and what you are being charged.

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

In California there is $800 franchise tax per LLC per year, which discourages a lot of RE investors from getting an LLC.

Very exciting you are looking to get into the RE investing world.Thanks for the interest in Rent To Retirement.

I've got about $525K in equity in the property, but lenders have told me that I cannot get a HELOC to access that equity for additional purchases because the duplex was financed as an investment - they have said TX law dictates that HELOC can only be used on primary residences.

And once you get a sizable amount built up in there look at some of the higher interest accounts that they have.

The higher the deductible the lower your overall premiumbut get quotes on all the deductibles you are interested in.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

I know a lot of high income people that buy rentals and get a study done, and that helps.

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.