I like the potential return the pro-forma shows, but I've been burned a couple of times already with expensive turnover, tenants leaving a mess and having to pay thousands $ to remove the junk and prep the unit for new tenants.

How do you pull out equity form a rental property?

Things such as; toilet paper, drinking water, pet supplies, linens and hot tub chemicals and cleanings that we didn't initially factor into our Pro Forma's..The costs of these are real, but even realer are the stocking, cleaning and preparing a space for visitors in a few hours between check ins.

However, the future looks bright with a promising pro forma cap rate and the potential for significant equity growth and improved returns down the line.

If you form a partnership LLC and put that in a land trust (and keep ownership interest of the land trust anonymous, together with its trustee), you've gone a long way to protecting the assets in the LLC.

The pro-forma (then) Jax Investments provided was conservative in that the taxes were overestimated and the rents ended up being more than projected.

Should we form a partnership LLC?

I’d love to form a mentor relationship(s) to help guide me on this journey!

The BP rental report shows below:Monthly cash flow: -$349 /moIncome: $2,300 /moExpenses: $2,649 /moCoC ROI: -2.79%Pro Forma Cap Rate: 3.35%Purchase Cap Rate: 5.10%TIA!

The Special Stips section is at the bottom of page 6 on the standard Georgia Purchase & Sale Agreement (GAR Form).As for contingency, if you ask for a due diligence period, this time can be used to do all your due diligence, including inspections, getting financing in order, finding an end-buyer (if you're wholesaling), etc.