@Ray Harrell Using other peoples money or by starting with what you can afford and adding units or trading up over time I would say.

@Kristen Ray - get a good general liability policy on top of any dwelling coverage you get for properties your LLC owns. 

@Ray Lai Thank you for the informative answers Ray!

I agree with @Ray Harrell, splitting the utility bill between tenants is just opening up a can of worms. 

Originally posted by @Ray Harrell:Well there's the law, and there's putting yourself in his position.

@Matthew Ray, I've only ever done buy and hold, and only with multi-family. 

@Ray Realdine when I did affordable housing, a majority of my tenants were computer illiterate or didn't have access to a computer/internet.

@Kristen Ray I buy for cash and don't get an appraisal, but I know within +/- 5% what the property I purchase is worth.

@Ray Johnson I could have clarified this better.

I intend to do everything to the letter of the law, and as part of the sales contract, we are doing the full lead inspection with X-ray fluorescence, and any remediation that needs to be done.