Second, in terms of asset protection, LLCs are not invincible, but I think what many don’t understand is that they are not designed to completely shield your assets from liabilities, on the contrary they are designed to contain and isolate liabilities.

Our clients have used 1031 exchanges very effectively when they have a property that turns out to not be the right fit for them.

The key difference, though, was he spent months carefully getting to know the local architecs, reputable builders, and even a couple of niche design firms that specialize in modern builds for mid- to high-end buyers.

If you can design something like that and hit those rental numbers than you're going to be very, very happy with the investment. 

Also you could start with local Plan-printing companies as they're always printing plan sets for architects and designers before they go to county and after the county comes back with changes.

If you want to change the design, then do upon closing.

You interior design definitely needs work.

Alternatively, in addition to the per diem in § 17 (Possession) for failure of Seller to timely deliver possession of the Property after Closing occurs, Buyer may elect to treat this Contract as being in full force and effect and Buyer has the right to specific performance or damages, or both.22.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor.