I have to agree with a lot of the folks here - its all about doing your homework and having the courage to act.It's encouraging to see many of you described your feelings with the same languae I would use to describe mine during that time: "addicted"  "research" "the right numbers".If your pursuing a loan to make your first purchase, I would establish a timeline and work towards minimizing your debt to income ratio (if possible).

I already politely declined attending but I agree with some statements above that it’s good business and we (tenants and I) are on a closer interaction platform (I’m usually in the neighborhood, quickly address any issues that come up which are minimal) and potentially in the future they will rent longer or purchase a home from me.

It is not my responsibility to minImize my profit, supplement someone’s rent, or in any other way be responsible to provide low income housing.   

At the end of the day, the overage is minimal considering the level and quality of the product we are getting.Pricing on As-Is UnitsThe units that are being renewed are getting $90 - $190 premium to in-place.Pricing on Renovated Units Two 1x1 units have been leased at $825, which is our ask.

Using these attributes will minimize risk.A good property management team will screen tenants for the credit and job history which will minimize the risk of the example you pointed out.

I also need to go about it in a legally acceptable way so that I am minimizing my risk of lawsuits and liens.

With a private room the costs are minimal to get started to test and see if it works then you can improve it if you’re getting guests.

Interesting point about title issues...Yes - I'm learning that buying/selling wholesale properties is a 'dark world', so to speak.I appreciate the input.

I need help/answersI don't have much money, but I may (for investment(s) ) be able to get private money and borrow from people I know...I want to put together the property(s)/lot(s) under some sort of minimal liability LLC or Trust, because even though I don't have much to lose...

I'm an attorney and handle the legal side with minimal tax advice--though being an investor, I'm certainly aware of tax implications of any structure I work with.