Purchasing the LLC gives you ownership of the property, but it also opens you up to additional legal exposure since the entity has been active, and there is no way to really know for sure what else they used the LLC for.

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

For me it was not necessarily that and frankly most 9 to 5 weekend off parents get way more time with the kiddos than self employed folks that are striving to build up their investments.

. #3: onshoring base-line manufacturing (a) creates more employment opportunities for both skilled and unskilled labor (b) creates more employment opportunities of jobs that elevate and train unskilled too skilled labor  (c) raises base-line wages and benefits via competition for unskilled labor (d) elevates the entire economic chain via more domestic circulation of $ and (e) less exporting of USD #4: stopping illegal immigration defends and protects legal immigration.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

Avoiding the occupants from squatting is best addressed with background checks, employment verifications, and references before signing the lease.

Additionally, I created MEC (Material Estimator Calculator), a unique residential renovation software that automatically calculates a bill of materials (BOM) based on the property’s condition.Overall, I’m thrilled to escape the Seattle rain and connect with fellow investors here in Arizona.

After a year or two we intend to buy a larger property in the same area and partner with some friends on it but I do believe a boots on the ground person employed only by you is KEY to executing anything if you are not in the country yourself.

All this in addition to 6 other lease violations...