Also, financing for an LLC is at higher interest rate and less favorable terms than personal.If your daughter lives in one unit, then your risk (should be) is cut in half (if talking about a duplex).

We're right on the edge of that ourselves now.With where you're at I'd be thinking in terms of utilizing the residential/retail stuff as much as you can.

Get lawn cut, bushes and tree limbs trimmedFresh smellSpend rehab money where you get the biggest bang (i.e. bathrooms, kitchen, paint, flooring, fixtures, etc) vs roof, condenser, hot water heater, etc (assuming they are in at least okay condition to the untrained eye)

But you learn to cut those ties real quick because as I said, nobody likes to waste time.Just my 2 cents for what it's worth. 

that will significantly cut into your cash flow if you have to hire PM. 

Keep an eye on it because it demonstrates he's living on the edge and may fail to pay rent some day.I recommend you get rid of him when the lease expires.

From the city guys coming out the guys doing the work for me. picked up two more opportunities in the same neighborhood as they felt I should make offers on the houses because the owners are being fined but not pulling permits and doing Shady work.II had an ex partner I used to tell him he'd step over a dollar to pick up a nickel busy try to cut corners. in this business it's very easy to do the right thing pull a permit do the right correct work and it'll pay off in the long run. in this situation before I would close on the unit the gentleman mentioned above I would call the city inspectors and get their opinions on things now it might even help you be able to lower the purchase price.

We've been burning the candle at both ends to get the unit we just moved out of ready to lease, and if I lose these awesome tenants because of a rental increase at this particular moment in time, it will be the last straw that sends me over the edge.

We have been getting the place ready for rehab and there was significant intrusion of vegetation etc and to preserve the integrity of the roof, siding and fascia trees and vines need to be trimmed/cut.

Save up, pay cash, get reliable but a good value...the best rule of thumb to live buy is put as little of your money into things that go down in value as you can...which is basically everything EXCEPT Real Estate....and maybe stocks...but basically you are only authorized to buy real estate from now on haha..I am half kidding...half.Pay off the debt, cut the expenses, save money like a crazy person and keep doing what you are doing...Live in flips are one of my favorites....even better, live in flip plus AirBNB for part of the year in a hot market airbnb market