Those that got burned were way way way over leveraged, and many on interest only loans with no way of paying the principle. 

In my case the rent of one unit covers all the principle and intrest of the property plus a little more. 

I always watch out for the “money is no object” line because it usually means they don’t plan on paying. 

It is important though to ensure that everyone is aligned on the goals and long terms objectives.

Here are the numbers:Monthly Payment: $1,255.60Principle balance: $177,466.11Principle: $301.61Interest Payment: $555.52Escrow Payment: $398.47Mortgage Insurance Payment: $125.36Additional Principle I pay each month: (Roughly) $144.40, to make the monthly payment an even $1400.I was given a rough appraisal of about $275K to $290k, and I know id need to meet the 75% LTV rule, so there's probably not as much Cash out equity available as I'm hoping for, but I figure Id see what my options are.  

Most importantly, it would be a network where members could define the goals and objectives of the group.

A lot of people think they can take on this tenant class not knowing that standard REI principles and practices do not apply to the D-Class arena.Did you ask him where he got the 1MM number? 

Seems that’s most everyone’s objective on here.

(I don't have an objection to buying somewhere remote and utilizing a property management company)Hold steady - don't do anything.

aged LLC won't help much. business credit does not build the same as personal creditadditionally, unless you partner up with a large apartment complex as a passive investor, you'll be buying a loan that requires a personal guarantee, which means your credit will be a factor.the bigger complex you buy, the less this matters, but if your experience is low and you're the deal principle then you'll have to prove your track record.....which is your credit score. yeah, good credit takes time.