I’ve been in the real estate business for almost three years now and have completed five deals: one buy-and-hold long-term rental, one short-term rental, and three fix-and-flip projects, for which I helped raise capital.

If you are speaking to Tom about the LYL opportunity, run the other way.

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

Share where your at, what your doing, the headaches your running into and ask for their advice.

You’ll need an agent who knows the area well, a solid property manager, reliable contractor connections, and lenders if you plan to use private money.

@Jay Hinrichs, If CM 'settles' all these suits, he will eventually run out of money.  

Definitely saved a lot of money.

We have lived in our other two deals, made money on both, but I have no idea how to do another deal safely without living in it.

I want enough money coming in so the business can sustain itself when issues occur with maintenance or vacancy.If you wanted to do this with only 20% down ($46,000), which is all you need for a conventional loan, here is how the calculations change.Total mortgage + escrow $1,493.33 per month with cashflow reduced to $306.67 per month.I prefer to overestimate purchase price, interest rates, and homeowners’ insurance to be conservative.

I guess it depends on how much money you have.