I'm a financial planner by profession so I want to fully understand the process.  

While the repairs will temporarily affect rental operations, the long-term tax advantages from depreciation could help recover some of the initial financial outlay.In terms of negotiations, it would be wise to push for a larger price reduction instead of accepting a cashier's check, given the magnitude of the repairs and the expected loss of rental income during the downtime.

So, your tenant's financial situation remains stable. 

You can make more if you self manage, but that takes time to set up and there can be a learning curve that costs money.Our agents are well versed in providing full financial breakdowns of every property they look at.  

@Sean Conroy, this really depends on two things: first, the land zoned in a way that you can subdivide and build more units (question for building/zoning department) and second, financial returns on doing this versus using the capital to buy.New construction certainly has its advantages on the operating side, and can often get a premium to remodeled, older units.  

When vetting a syndication, every investor will do it differently because every investor has a different risk tolerance, comes from a different financial situation and has different financial goals.

What financial or general advice would you give to someone just starting? 

But if a tenant defaults they have a right for due process to contest the eviction.We see people try and do this with having a borrower on seller finance sign the deed back over to the lender and if they miss a payment the lender can record the deed back into their name.

Out of 2,500+ investors we have as clients, only a small handful invest as an LLC.I could see the point to an entity if a group of family members or friends were pooling their money to invest in a syndication or several syndications, but outside of that scenario I don’t see the point to it.But don’t listen to us, get competent legal and accounting advice from those licensed to give you proper advice after evaluating your legal and financial situation and risk tolerance.

The financials are not bad: Asking price is $485K.