You put the wrong tenant in and can have many,many months of lost rent and legal fees.Point number 6: You could still have the external leasing agents bring tenants.

While I don't have an official accountability partner, I have been telling everyone I know about my plans to invest to help give me that external accountability to follow through.

This seems very overpriced imo, however, if you want large tax losses to offset any other gains from other stuff then it could be a great deal if you think their could be appreciation.It's all about your internal and external goals and what you want to achieve, but on a purely numbers basis I would pass.

Id more or less like to own the properties and then hire out the property management either internally or externally 

No one can or should tell you what to do here because theres so many internal or external factors.

You have to deal with several external entitiesa) Title search companyb) Lender ordered appraisalc) Home inspectord) Closing attorneyIn theory, everybody could do their job in 2 days but in practice it does not happen.

if i was living in the us i would for sure be more hands on, its something i did with my the property i currently own where i live (did a complete renovation using an external contractor) but that's not that case.  

Hello, I'm seeking a mortgage on a property that was purchased in a recent sheriff sale, property located in Union City, NJ.I've been assured that that are local banks that will underwrite mortgages even on the basis of an external appraisal (can't get  an internal one because I can't get in the property yet).Any ideas on which these "local banks" may be? 

Hello,I'm seeking a mortgage on a property that was purchased in a recent sheriff sale, property located in Union City, NJ.I've been assured that that are local banks that will underwrite mortgages even on the basis of an external appraisal (can't get an internal one because I can't get in the property yet).Any ideas on which these "local banks" may be?

If you're expecting $100k net in year one it's well worth it to add a tax CPA/EA to your team of external partners.An LLC with an S election might be the most advantageous avenue to pursue.You would have to pay all employee-owners 'reasonable compensation'.