We could have held off for a higher offer as the market stayed strong.

They provide strong asset protection, separating your personal finances from your business.

The reason for this is that without a license you have no fiduciary responsibility to your clients.

Loans are nothing more than networking, and strong financials which you look to have on the property.

Chicago cap rates are lower then interest rates so what I see clients do is rehab to add a ton of equity/boost rents and then either just hold it or do a partial cash out to get back 1/3 or 1/2 the money in the deal which gives you a higher COC.

This makes a strong partnership agreement critical to protect your interests.Legal and Tax Implications: Consult with a real estate attorney to formalize your agreement and ensure compliance with local laws.4.

@Nathan BrooksI am not local to Richmond, but have several clients who work in that market.Welcome to the community and be ready for a huge amount of information at your finger tips.

I do have an accounting department that handles the payables.  3.Consider a Maintenance/Construction Division (When the Time Is Right): Margins in PM are thin, but bringing maintenance in-house can be a strong revenue stream.

While the prices of home are low, rent yield is still strong making you feel more confident in achieving those cash flowing goals. 

I'm also a REALTOR who focuses on PadSplit primarily with many clients building portfolios of these high cash-flowing properties.