And since as a landlord with less than 100 homes you are limited to only filing a small claim on the damages and you can not report this kind of tenants to the Credit Bureau, it's worth the price.

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If you have lived in the home for a total of two years anytime within the last five years you qualify for the entire $250k tax exemption if filing singly.

Before I looked at the deal, here's what I asked from him:The purchase and sale agreementRehab breakdown documentation2 HUD statements of previous dealsDeal info (Property profile, funding, security, repayment plan, etc.)Title company involved in the transactionWhat I also asked for was a term sheet from the hard money lender that was lending at first position.

I mean if you get it, it will allow you to retain your investors.As an alternative, you can take the route others suggested:1) Fund  of funds2) Partner with others on GP side in an investors' management roleKeep in mind, that both options would require you to have a full understanding of the role and the regulations involved. 

Unfortunately, the perceived excessive costs involved in purchasing real estate can intimidate aspiring residential real estate investors.

However, if you are an investor involved in multiple cities, you might prefer a lender who is licensed in various locations.

I set my tenants up on Zillow and they put their info in directly so I don't have to get involved with their bank at all.

.: There are ways for him to sell the property to you even with a mortgage, but there's a lot of complexity involved and I don't recommend it.