The contractor will give you better pricing the more you use them, some GCs increase their price, but those are the ones you would like to not use (side note, of course with inflation you need to pay your people right, but it needs to be reasonable).

So they would first payoff the first mortgage, if there is a second then $ goes to the second and if anything above that goes to any other lienholders or the homeowner.There are a lot of people who invest in 2nd mortgages because they are cheaper than a first, but in Ohio (not sure all counties) you have to pay off the first at foreclosure so if you do not have the money to pay off the first you are out of luck. 

Some questions for the people with experience: What are some basic landlord problems I will most likely run into?

Also, it lends itself to unconscious bias because we are more likely to view negatively people who are different than us.

And, I think its fair to say that we all may forget what people say or the information they provide, but we all never forget how someone treated us and made us feel! 

I really feel this is helping people find affordable rentals.  

Most people are not rich there, look at the cars. 

In regards to your offer, I am always willing to learn more from people who've been there and done that. 

A4: If you pay as “friends and family” – then yes, need 1099s.Q5: I only need to send 1099s to people, not to LLCs, right?

How would you like to be a tenant waiting on a repair because the owner wants 3 bids for everything and not only will that delay the repairs, but you'll have 3 people coming through your home everytime you make a maintenance request?