A Corp -S or C have a lot of recording issues you have to do.

More specifically, what I would like to do is to find some opportunities where I can (a) add value through my work, (b) have a reasonable expectation of natural cap rate compression, and (c) have a favorable risk/reward balance. 

Another favorite site of BPer's: http://www.lonestarlandlaw.com/deceptive-trade-pra...Notice that "taking advantage of" and "predatory" have the same meaning.Consumer protection laws are basically, anti-predatory laws:https://www.nclc.org/images/pdf/udap/report_50_sta...Look to pages 6, 7 and 8, in the charts you'll see real estate listed and the findings of the effectiveness of state laws, in the opinion of the study.Here's GA.

Both buyers (B and C) have to bring their own money to closing.  

Hence, I would only refi to 70% so A) I have a lower payment, better cash flow B) Banks are happier/will require a lower reserve C) having more equity will make it easier to obtain a commerical line of credit once the portfolio is larger.

Hello BP my name is Gian Chaves and have been listening to the BP podcasts for about 6 months now and have learned a lot.

Do you currently own a place in PR or do you plan on buying a place in PR? a

Currently both full-time employed but who knows..Does anyone have any clever strategies to a) mitigate our risk in the short term (avoid paying a mortgage with less or no rental income), b) figure out whether now is the time to get a mortgage or c) have any general advice about timing etc.?

We had someone else who really wanted to rent the property because of the history of the property (It was built by Caesar Chaves for his workers), and because it had a guest house in the back where the unwanted tenants where, move into a camper onto the property in order to makes sure they didn’t damage it more and in order to keep out other people from breaking into the main house while we were rehabbing it.We had a judges signature for the eviction but could net do it because the constable wouldn’t call us and deliver the notice.

I've seen this relaxed to 2.5X depending on location and the price of your unit. if rent is 4k a month then 2.5% is 10k a month gross that gives them 6k a month before tax to live on.. if rent is 700 a month I think it needs to go the other way  4X  that gives them 2100 a month to live on as opposed to 3X were they are living on maybe 1k a month that's a pretty precarious situation for many one flat tire and rent gets missed :)  I am not saying you are wrong in the intent to make sure there is enough living money, but in practice I have found that my cheaper units (class C) have the tenants paying a higher percentage of their income to rent and they simply live on not much money.My B class properties can get tenants easily at 3X the monthly rent (start at ~$2.5K (3 BR) and go up to ~$4K (3 BR)).