With that level of capital you could acquire & manage the assets & tax issues without the restrictions of the REIT structure.

Hello all,I am in the process of acquiring a townhome near Waynesboro, PA. 

We just looked at a supposed tape of REO's a couple of weeks ago, at 50% of BPO, and they all turned out to be this same HOA auction acquired junk with underlying mortgages.  

If the goal is to acquire more properties, it sounds like it'll make more sense to refi the $145k-$160k property since the other one won't leave you with much to re-invest.

Lastly how did you go about acquiring the property?

What is the first type of property you would like to acquire?

I'm specifically interested in acquiring a rental property within the $800k to $1.2M price range in Washington state.However, upon evaluating rental properties in the current market, I've noticed a concerning trend of negative cash flow.

I started acquiring buy and holds with my business partner last year and we are up to 15 units.Lately I have been really focused on moving on from my W2 job and expanding the business we have.

Right now I’ve sorta been hesitant to start due to my lack of knowledge on investing in real estate but I hope to acquire as much knowledge as I can through BP.

What I have done in this situation is I acquired the property and then had the individual sign a long term renewable lease and the cost was $1/yr + the costs of insurance and taxes.