Buying a run-down junker may look good on paper for cash-flow purposes but it can eat your lunch when a major system fails and has to be replaced.

Many follow Fannie guidelines to the letter, even if they don't ultimately sell the paper to Fannie.

I will be relocating my company at least on paper to Wyoming.

"paper", something like Process Street (https://www.process.st/) might be worth a look.

@Dana Powell You are not obligated to follow through with the transaction until you have signed the papers at the closing table! 

So first, just to clarify, the rental that is in the crime infested area, its safe to say you guys have signed papers and you guys are the owners of this property.

@Jaysen Medhurst great to hear Jaysen, I found through my experience that whatever I put on paper always materializes - it’s worth investing the time to plan things out.

Hello bigger pockets I currently am self employed and a small business owner net income of 71k a year on paper,50k saved up and 700 credit score.

Everything about this property works on paper and I've been researching/reading for almost 2 years at this point.

My reasoning for having the LLC sign a lease on each property is, 1) for refinancing or getting a new loan, our mortgage person said it looks better on paper to have rental income coming in from a lease than a "short-term rental", and 2) the rent that the LLC will be paying us is tax deductible as a business expense (for the LLC) when we file at the end of the year.