This could be a great option for your property as well.I recently met an investor at a networking event who specializes exclusively in pad splits.

Understanding the markets to avoid, what laws to watch out for and selecting the proper strategy that goes with property plays a huge part in this. 

I look at a property check everything myself , I take notes on what I know it needs and I leave .

If not rented at fair market rent, this property will just count as your residence, not a rental for tax purposes.Structuring the property under an LLC or land trust could trigger a due-on-sale clause, so check with the lender before proceeding.To minimize risk, consult a CPA for tax strategy, weigh financing costs, and draft a legal rental agreement.

Property values soared high in this town since past 7 years.

Your SEC attorney can help you with the details.Typically you would have one LLC that owns the properties and another LLC that acts as manager.

You bought a property.

I used half the HELOC ($160K) as a down payment on a 12-unit property, making my dad a 35% owner since we used his funds.

The property isn’t worth what he paid for it. 

Opportunity to purchase a property and live rent free while doing it.