We wrote into our purchase agreement that a separate septic agreement needed to be drawn up and attached to the recorded deed for all future owners which protected us and the other home owner,  and will make it easier to sell in the future with that in place. 

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

IANAL, but just had a call with them and signed up for a holding company registration, and an LLC for a LTR in South FL that I have been running under my STR property LLC, registered in another state (which I don't think was giving me the intended protections for the FL property).

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

if you buy a random property in a neighborhood you've never been to and turn it over to people you don't know you'll just lose money.not trying to be negative, trying to protect you and your hard earned cash.

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

Typically a new roof only makes sense to protect the asset.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

You need to log everything to protect yourself from any liability.Going back to your initial question--price is subjective.

No maintenance/cap ex, vacancy, PM, book keeping, asset protection, miscellaneous, etc.his actual cash flow when properly allocating for sustained expenses is a fraction of his advertised cash flow.