Still, you will see some large companies go down and then see creditors go after the individuals assets because they guaranteed the loans.If you are a single member LLC and you self manage your protection is minimized compared to a multi-member and separate management.Having an umbrella is important.If your personal net worth is high you are at more risk even with 1 property because lawyers always look for deep pockets.

I've been trying to learn as much as possible, and get things in line before getting in too deep.

But I can forsee a deep cleaning and possible update needed when they move out.

The area is a bit of a borderline edge of city area - not suburban, but not deep into the city where things get rougher and the schools deteriorate.

Anyone here gone this deep without a lawyer?

Sitting on a double lot, 800 ft deep with a 40x60 barn, we had an investor very interested.It kept dropping until it bottomed at $59,900 & he had 3 offers but conv financing balked at the repairs & the mechanicals kept failing the inspections.

Make sure the discount is deep enough to overcome that.

If you own RE chances are you have insurance, that in itself provides the deep pockets to go after you if you messed up. :)

Not what I was expecting.In my opinion, while DM to absentee owns is the right strategy, it's also one for those with deep enough pockets to out-mail the next guy or those able to strategically target a list of motivated sellers, at least in my market.DM will always be part of my marketing, but it needs to evolve like other parts of my business.

Some think landlords have deep pockets and can afford to wait.