If you're buying for cash flow paying $365K for $2340 in rent is a terrible deal.There may well be an appreciation play, though, if you can sustain the negative cash flow.Getting a real estate license has no effect whatsoever on being a "real estate professional" for tax purposes.

I have no experience whatsoever in the industry so I have a lot to learn and can tell it's going to be overwhelming in the beginning.  

Well, the guru message about this system is basically, "If you use the system, you can make money on any property at any time with NO competition and NO risk whatsoever..."

Convincing investors to buy in with you on a 100 unit multi-million dollar property when you have no experience whatsoever would require a sales pitch that only a charming sociopath could get away with.

Columbia is a great area to cut your teeth in RE.

Dude, I applaud your efforts, but that's not the kinda deal you want to cut your teeth on.Make the phone calls, see if you can find the right guy to partner with or flip it to, but I don't know of anybody with that kinda cash that would hand it to a new investor on a loan.

However the neighbor destroying your property AND YOU KNOW THE NEIGHBOR DID IT and the tenant tried to fix it (which its not the tenants responsibility whatsoever) and just because they weren't successful in the repair you want to hold the tenant liable is wrong!

I currently have no experience whatsoever in real estate and have rented apartments since I left home.I came to learn about biggerpockets from searching around on the website for real estate investment advise.

I am an entrepreneur at heart and decided to start my own company rather than relocate and continue to make other people wealthy.Other than my own residences, I have no experience in Real Estate and none whatsoever as an investor and flipper.

The same may apply to any person acting as a trustee.Most attorneys won't mind being named as an additional insured as they may then administer loss proceeds for the benefit of the buyer, this of course going along with a properly devised installment sale contract (which is about as rare as hen's teeth, LOL).Another way to address insurance issues in an installment contract is an assignment of loss proceeds from the seller to the buyer.