We're looking for possible next moves including doing a 1031 to a lower prop tax state into a couple of newer SF units or possibly a multi-family opportunity.

Some of the simpler asset protection solutions would include the following:  having max funds allowed in qualified retirement plan or IRA rather than personal as retirement plans are exempt assets in Federal and most state bankruptcies; investing through an annuity if your state (Florida and Texas for example) exempts insurance policies and defines annuities as an insurance policy; taking advantage of maximum homestead exemption in your state; use of corporations or more popular LLC or Series LLC to limit liability to the entity holding the asset; reasonable liability insurance if available; separating asset ownership from asset management; etc.I can design a simple, cost effective asset protection strategy of up to about $5million with little cost IF the individual resides in Texas or Florida.  

This gives me access to a large network of skilled contractors, including plumbers, HVAC specialists, electricians, and general contractors.I’ve identified a promising opportunity with an auction property, but I’m unsure how to accurately estimate rehab costs with only a small window to do so.

Get a list of recent inspections and permits to make sure the new roof and such were done right.Check with police if any reports for the property.What's included in the seller's expenses?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

In an effort to bring ANY $ in to help cover the mortgage ($4600 including taxes and insurance), I put together an AirBnB site for the property and set it live, with zero expectation.

I recently learned they are being sued because one property they managed one of the people touring it, trashed the place and stolen everything including light fixture/faucets.

We ask for 30 days notice and include that in our lease agreement but understand and are flexible with tenants so long as they are respectful and cooperative.

You only need to get around 4-5% when you include leverage to equal those returns you cited and then factor in tax advantages and you are exceeding those returns. 

I've been looking to branch out to a few different areas on the East Coast that would necessitate a property manager but Texas and its heavy investment in business, including the major tech investments in the works around Sherman are very intriguing.