Then - once you're stabilized around 90% occupancy - re enter the markets to secure quotes from Freddie / Fannie / HUD / life companies / banks / credit unions.If it's an acquisition perhaps you put short term debt on the property, re-position the asset, then refinance after you're turned the operation around.

I'm already using RentRedi to screen tenants, receive rent, deliver messages, but I wanted to know if anyone had any suggestions on either a software or virtual assistant type platform that helps them automate maintenance requests...

Always interested in something that can improve operations.

It really helps to have someone local walk the property and neighborhood, but if that's not feasible for you yet I would at least "walk" the neighborhood virtually through Google Maps.Lastly, I would join a Facebook group of investors and landlords in that specific neighborhood.

Several reasons: market rates, cost of operations, risks of the tenant in particular, rental history, turnover potential, loss of rent during turnover period, "hot" or "cold" market, etc.

An attorney can create an operating agreement for you and give you ideas on what to include in your operating agreement.Loans will probably be personally guaranteed, so it doesn't matter if it's in an LLC.

Whether you’re trying to find off-market deals, build a pipeline of motivated sellers, or scale up your operations, there are some game-changing tools and methods that can seriously boost your efforts.I’m really passionate about helping others take their business to the next level, and I’ve seen firsthand how these approaches can deliver results.

@Sean Conroy, this really depends on two things: first, the land zoned in a way that you can subdivide and build more units (question for building/zoning department) and second, financial returns on doing this versus using the capital to buy.New construction certainly has its advantages on the operating side, and can often get a premium to remodeled, older units.  

The rest of the land isn’t really easy to build on so It is virtually worthless to you.Let's say you paid $5MM for the facility based on NOI and the land came with it, virtually free.So you decide to get the property appraised for development value and donate it to a land conservatory.The appraiser runs some comps on other land recently purchased to get you a value.They come back and tell you the current development value of that land is $50,000 an acre. $50,000 times 15 acres equals $750,000.You give that $750k development right to an agency, and It is treated as if you gave $750k to the Red Cross.It's a huge deduction.Depending on your tax bracket, that tax deduction could be worth several hundred thousand dollars to you.It's a pretty big deal.

@Rick Albert assuming that in your situation you and your investor are owning/managing these as purely investments and thus holding everything via a partnership operating agreement?