As we got into what was supposed to be just a cosmetic rehab we uncovered several things that set me back by about 5 months and $40K.

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

It's a great starter book for the financial foundations of real estate investing: https://store.biggerpockets.com/products/set-for-life-revise...I would also recommend Small and Mighty by Chad Carson: https://store.biggerpockets.com/products/small-and-mighty-re...Real Estate Rookie: https://store.biggerpockets.com/products/real-estate-rookieHouse Hacking: https://store.biggerpockets.com/products/the-house-hacking-s...

I've set a goal to have something locked in within the next 3 months!

https://air.tl/5cmk2bQaPricelabs has a nice feature where I can set the distance or draw the properies to include for determining the market.  

Buying an investment property in Las Vegas @Josh Salapare could be a smart move, especially if you’re set on moving there in a couple of years.

I would greatly appreciate your input on this matter.Here is my setupPurchased property under a TrustLLC in FL owns the TrustHolding company LLC in WY owns LLC in FLI purchased the property sub-to, took over the seller's mortgage and I’m working on setting up insurance for the property.I understand I need to keep the seller as additionally insured in my insurance, but the seller no longer has "interest" (ownership) either in the Trust, nor any of the LLCs nor in the Deed nor Settlement Statement.

Including setting up an LLC taxed as a partnership. 

Either define a set period of time that you will serve as a manager for no cost and then collect xx% of revenue as a management fee before splitting profits.

If he's dragging his feet, it might be time to set a deadline for his answer and line up other options to avoid last-minute stress.