Partnering with a strong team—such as a knowledgeable realtor, property manager, and reliable contractors—will also be key to your success.

In that case, you'll strongly want to consider what putting personal-use property inside of an otherwise business-use LLC would do to the liability shield, as well as insurance and tax reporting.There are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

@Ray Hernandez Just my personal opinion based on experience, but...Having one or two rentals is just ... annoying. 

Lending, which is another asset based hard money lender. karen at belending.com.

I will be diving into those in more details and putting together my Box based on the numbers and affordability.

If not then look for asset based lendng such as ABLadvisor or similar sites.

Just make sure to do thorough research and fully update yourself on the changes in the local market to ensure strong rental demand and solid market data.Diversifying your investments by owning multiple properties spreads the risk and helps maintain cash flow.

Hi Ori, I'm an out of state investor as well, based in the seattle area, with a portfolio of 9 properties across Memphis and Detroit.

So, he could still be of value, especially if you are new, but based on the deal coming outside of him, the agreement is not enforceable.