Construction costs are up right now, so builders and investors are not building new units at breakneck speeds.

I just want to set it up right from the beginning to maximize tax advantage and avoid any issues with Lenders when doing a cash out refinance. 

In general terms Joe pays himself (you would have to talk to an accountant or attorney to learn more on setting these entities up right).

Curiouis thing about Mexican people,,,they rarely even flush the TP they use. they must be brought up right.

And I always keep the seller in front of me where I can see him.5) Additionally I take martial arts classes and am always ready to go on attack mode at a moment's notice if need be.6)If I were you I would also carry mace/pepper spray ready to go if needed.

Several points:Look up "rights of possession" and "quiet enjoyment" that is what a lease conveys.2 or 3 kids probably doesn't fall within your local business license requirements or child care regulations, but you can check.

It can cost you a lot more down the road if you are not set up right.

You my friend are tied to a sinking ship called the stock market, bond market, IRA's, etc. to get out you pay a hefty tax, but you might as well save and invest for the long term because it always goes up right?

An average deal for me is paying 20-25k spending maybe 1k to fix it up right away and rent it for around $700.

Do they pick up right away?