Thanks min what market do you operate in?

I am going to provide coin-operated laundry units in the basement of both properties.

My only backup plan if I can't get verified funds is to assume the worst and to drop my counter offer even lower than my original due to the risk I would be taking on, and then when I do my in person inspection try and guess what rents are fair market for the empty units, and ask as many tenants as I can what they pay in rents monthly.Seller should give you all of his bank statements for the time he owned it, plus the operating financial documents (including rent rolls)that he received when he bought.Then find an apartment broker in the area and find out about rents in the building and in the immediate area.

Your personal mission is good, but that's not operational.

Hi All, I am a new member from the Bay area, Ca looking to invest and operate an Short term rental (STR)I am listening to the Avery Carl's audiobook. 

Connect with @Jillyan MacMorris she's an experienced MTR operator in Chicago

Expenses (both transactionally as well as operationally)  disproportionately impact lower priced assets.

Then you invest that money in a super secure, no risk note with an operator who is already underwater on their original note.

To operate in the city of Las Vegas, this requires a business license.

Some states also require an annual license fee to own and operate an LLC so that could also cause a potential for increased costs there as well.I would consult with a real estate attorney to see if an LLC makes sense from a legal standpoint and advise your accountant as to your decision so the appropriate tax filings can be made.