That property has tenants which would cover the monthly payments at its current rent which is well below market value but the property would need love to justify an increase in rent.Very grateful to have made this much progress in the span of less than a year and a half and currently just trying to make sure I have all of my ducks in a row to ensure I can build these three properties into a stable few investments.Looking forward to the future,Austin

Both times the owner's insurance company ended up covering us and NOT the owner (their client) and the owner had to pay our legal fees.Your PMC doesn't seem to be on top of this and you state is already blaming you, so you may need to document that they are the problem, not you.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

He said at one point the one lady could do 3 week and he will cover the rest, he cannot evne use a computer.   

It’s a nice place and I hope to rent it out weekly from time to time to help cover the mortgage ($1,850/mo w/ taxes, etc.)I just found out from a personal conversation with the owner that a Lake House down the road will be going for sale and I was given the option to buy it off market.

Do you think your insurance policy will cover you on any liability when they find out you are not running a legal operation?

I also intend to owner occupyI was thinking if there is a small studio or even a garage within the four plex ,that should cover the IRA part and the rent from that studio/garage can be accounted and deposited directly into the IRA account please advisethanksFollowing - I'm based in the Easy Bay.  

Thanks guys, Im more curious about 3-4 beds vs 2beds. 

You have saved enough cash to purchase a small 2 bed, 1 bath single-family rental that already has a tenant. 

This will vary by lender, but 60 days will cover seasoning for most.