You avoid a double close - many lenders now require you to have own good funds to close - meaning you need "flash cash" to close which cost you money, and I don't suggest a trust, as many lenders will balk at a contract with a trust as a buyer - you will lose money by never getting deals in the first place.use the LLC - costs a couple bucks up front, but you get more deals signed and it avoids the costs of flash cash, AND if you want a business process that works every time - that is the way to do it.Michael Jake

Hi everyone,We're about to begin the rehab work in one of the properties we purchased in Old North Milwaukee.

@Ken Buck,Sounds like a great opportunity!

I was trying to save few bucks but it's not worth the headache.

Too many people get into real estate wanting to make a quick easy buck.  

So new kid that bought his system was offered a two hundred bucks MF that was normal appraised for 150k only lol… and expecting that market would just grow , the system is working in 2009 though same thing to what Greg Hugher did in other bankruptcy filing lol

This is a very good point. 10% a month or $100-200 bucks, how much do you really expect the PM to do.

@Christina ColonIt sounds like this tenant could be a problem in the future - however, if you boot him without planning and your place sits vacant for a month or two, you're likely down a few thousand dollars instead of a few hundred bucks for landscaping.If the landscaping costs are relatively inexpensive, you could plan to not renew the tenant, start showing the property to other tenants a month or two before lease-end, and have a new tenant (who won't complain about handling landscaping) begin renting within a week or two of the problematic tenant moving out, thereby saving you lost rent on your place sitting vacant.

Most home warranty policies would cover leaks.As far as what is acceptable, in my market (Milwaukee) nobody bats an eye on cast iron sewer pipes or clay tile sewer lateral.

Lot of nice little lakes between there and Milwaukee that also offer lake frontage at a reasonable price point.