Mini splits are ductless (air sourced)heat pumps.Depending on what you are trying to to accomplish they can be thousands of dollars but typically not.Keep in mind they can only provide heat usually efficiently to only a certain temperature since the condenser unit is outside and has to extract heat from the air, so if it's literally zero degrees outside it's going to be harder for it to extract heat.  

Hi guys its me again, so Ive posted on here before at looking at some properties in the northwest and northeast suburbs of chicago primarily mchenry, kane and lake county and I have basically been contemplating some ideasMy goal: To get a fixer upper property and fixed it and flip it (maybe live in it for a couple months to a year before i sell it, depending on how the market is going)Financing optionsCredit Score: 745 (last check last week- transunion)Cash: 25kPossible Heloc: (My property in Utah was appraised at 265k, I owe 200k on it so thats a possibility to tapping into some of the equity)Any ideas as to where to go and who to talk to to find some fxer upper properties, i know a lot of people dont like to give away their "secret" but it be nice to find some really cheap properties off market and try to get some quotes from different contractors to try and make my first flip.Thanks so much guys again for your help!

I've thought of having some sort of 6 month challenge where a reward would be given if no payments are missed but that may become a pain to deal with and I have a hard time justifying why I have to lose money in order to collect the agreed to rent.You will always have stories, that is just tenants making white noise.First get your late fees up to to the maximum level the law will allow, normally around 10%.

It was a chance to to use a little money, and a little work, and secure a long term investment that would provide future financial security. 

Wondering what it cost to run water and plumbing to to a back house on the property from the street.

Could a few simple changes be made to to cause these units to be no longer considered livable (such as removing toilets or water fixtures).

Once I was comfortable with this and able to to do this I realized that I can step in on my mentor's other projects and help out/watch his moves more closely and have a chance to keep learning while being invested.

Originally posted by @Darsh Patel:...I'm trying to figure out whether the cost of the LLC is worth doing it now or if I should wait until my portfolio gets bigger....Limiting risk to source of risk:First, the theoretical basis for owning property under an LLC vs in your personal name is the same reason it is advisable (based on level of risk you are exposed to) to conduct business as an LLC vs say as a sole proprietor.

Don't think I ever plan to, to be honest. 

Now, based on their track record they may have never failed to to perform, but past performance is not guarantee for future performance.