And once they have carried the note for a few years, you can offer to buy them out for a discount.

There is the risk carried by the turnkey company during the renovation and being able to find quality residents for the home and ultimately the investor and at a rental rate that makes sense.

@Jaycee Greene I planned to approach the seller to explore the possibility of carrying a seller's note.

Congratulations on your success, I wish you the best as you carry on!! 

Rising property values help, but make sure the numbers work with high carrying costs.BRRRR: Great strategy if you can still find properties below market value.

It's possible he carries it out, but I believe it unlikely.

I wasn’t prepared to lose so much of my savings as carrying cost basically I paid for the tenants to live there for 3 months + my own living expenses in that time.

Lenders dont allow seller carry back and NO cash equity.. 

Do your homework first - then you'll be ready for a more meaningful conversation with a landlord.Best...Thanks for your response. so I have researched the rates and I understand that screening a tenant is crucial. mu biggest concerns are the carrying costs until a tenant is filled as I’ve heard the process can take up to 3 months to find a tenant.

If the LLC you own shows a loss (beyond depreciation), and you are an owner of that LLC, this would carry into your personal tax returns on Schedule E, page 2 from your K1.