@Sam TrightThe agreement with the lender most likely will forbid you from selling any part of the loan, and if you did those funds would be to pay off the loan.As an example if you had a note worth $30k and lender gave you $15k, if you sold a partial for $20k the lender would require you to pay off the loan.Also most partial agreements also explicitly state the loan is not leveraged.

Hi BP looking to see if anyone has experienced this before…Been working a deal out with my agent (well known on this forum and has great reviews) and trying to close on my first out of state rental property.  

I understand the state laws regarding wholesaling in NY are tricky, but is it worth it to spend the money to have lawyers review or draw up my contracts?

You probably should make a separate post one for Oklahoma and one for Texas whereas these are two different states.

This will be a long distance BRRRR (I'm located in California).I've got 8 turn-key SFRs but now want the money to work harder.Do out of state BRRRR investors have tips on getting started and/or pitfalls to avoid?

I stated this million times.

We're a brokerage that deals specifically with investors.We hold monthly REI meet ups all throughout massachusetts where investors, vendors, attorneys, lendors, agents, etc come to learn and network.Our Worcester team is hosting a meet up at Bay State Brewery in Worcester this wednesday from 6:30-8:30p. you should stop by!

@David GeorgesonYour PM is not responsible for this and I can pretty much guarantee you their agreement will state this.Unfortunately you as the homeowner are at the end responsible and I would notify your insurance company to put them on notice to file a claim depending on the damage.

For those managing rentals out of state, how do you ensure everything runs smoothly?

I have questions such as, should I really be looking at my home state, or can I expand to surrounding states as long as it's drivable?