Account ClosedAdding your property manager as "additional insured" is standard practice and beneficial for you.

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

Im sure there are many properties owned by someone famous but they practically never lived in it.

It is such a common practice for these management software companies to charge these fees, so I assume it is not an issue, especially since they are a third party and the fees cover more than just the credit checks.Any insight is helpful!

Quote from @William Fuller: When deciding to potentially acquire a piece of land that a wholesaler has under contract, what information do you need about the land or parcel?

I am targeting Cincinnati, OH as potential first market because I grew up not far from there and have at least some connections.

Do you know what you are doing based on actual practical hands on experience?

The last lender I’ve tried to get a pre-approval had a, imo, patronizing response saying,”Although lots of people talk on social media about buying a three or four unit property with only 3.5% down in practice it almost never works.”All lenders who I’ve tried to give a pre-approval for has tried to sway me to switch to a 5% conventional instead.

If you held the flip for 2 years then sold- then you could potentially do a 1031. 

From a practical viewpoint, I wouldn’t think the lender would accelerate the note, if the LLC were a single member LLC, you were that member, and it was treated as a “disregarded” entity for tax purposes.