In my firm, we underwrite the Sponsor as a company in addition to their individual offerings.

PS when you go into the health department ( or whoever controls on site sewage) you may find out also that your individual systems and tanks are fine.. but you want to know for sure before you spend any money.

You can find loans anywhere between 0-5% down depending on your individual circumstances. 4) I am unfamiliar with jacksonville laws and regulations, but in general, a property with unused space is ideal for these conversions.

As a young individual with more time than money, I think its a great option.

Fundamentally the point I was trying to get across in my original post wasn’t about my due diligence, its that the cost of known and unknown repairs when you first acquire a REI is way higher than people seem to anticipate.The way my tax person explained it is the 25K limit you’re talking about is the limit to losses you can claim per property per year, I haven’t hit that for any property individually so it works out.

Some investors say individual accounts for each property and some say one checking and one savings and lump all your properties together.

The units have an intercom / door buzzer that allow visitors to buzz an individual apartment, speak with the tenant, and then the tenant can buzz them in through the entry door and into the building. 

@Blake Yarbrough why not have the individual loan you the down payment, secured by the property, at a rate that is more than he can make in the market or in a CD and calculate that amount into the total debt service.  

It might take some time, but I'll go through each one individually at some point.I just usually end up downloading the podcast and listening on the train so I don't have to worry about losing reception. 

Not saying you did, but often people love to quote the cashflow but conveniently leave out capex, which can be considerable on a bunch of individual houses.