The two years consisted of negotiations with the land-owners, site tests, city planner meetings, city commission meetings, etc.

There are multiple points of failure here.On your rehab, if you haven't been asked for a draw then he hasn't done the work.

I have actually managed to save up enough for multiple down payments around 20% as i have been here for 5+ years and not been able to qualify for credit (due to history length) so i have been pursuing the 20% conventional method initially. 

It shows you’re serious about your real estate game.Easier Management: If you plan on owning multiple properties down the line, having an LLC can make managing everything a lot simpler.

@Brian Ploszay definitely had some great insight.To expand on his first point, I think a "triple net lease" would be a good model to try to follow.Also, make sure that in the event your optimal tenant (drug rehab) were to move out, you have multiple exits to help you sustain any market downturn. 

Our relationship with them is not ideal, we have already had to serve them a cure or quit notice earlier in their lease term (approx. 1-2 months after moving in) due to multiple, egregious lease violations, however because they “cured” the violations could not proceed with evictions.

@Stuart Udis multiple charges including water, sewer and storm water.I have charged separately in the past then they grumble when one uses lots of water gardening or whatever.Have a vacancy coming up which is rare and an opportunity to improve the place wherever needed.

Most properties in liveable or renovated condition receive multiple offers.

If you’re looking for more rental income and can manage multiple units, another multi-family property could be a good choice.

I found the right company and made my first investment.I met with Chris, Brett, multiple other Clothiers, along with my agent, Rick Luebbert & the entire REI team in Memphis on Friday.