If I did it, and I'm no one special, anyone can do it.

With the property needing lots of work, I provided a solution to the owner.

My plan moving forward is to acquire another 20 doors before years end and I'll provide another Portfolio update around then.Happy Investing!

-Transfer the property into an LLC – This may allow me to take ownership while potentially avoiding property tax reassessment, however this sounds like an involved process-Establish a living trust for my aunt and mother – The trust would specify that I inherit the property upon their passing and provide step up in cost basis but i'm worried that the living trust can be modified to have me removed (who knows what can happen) - My mother is somewhat volatile.I would like to live in the property and my mother will live in her second property with her husband. 

It is a small town, definitely a tertiary market right now, but that is where opportunity is going to be found.I think LTR, in the right location, can provide enough revenue annually to cover all holding and leverage costs while the resident pays down the principle and the demand in the city sustains slow and steady appreciation. 

These can provide good cash flow and are easier to manage than larger commercial properties, especially when you're just starting out.Also, when I was starting, I found local meetups super helpful.

My point is certain things are learned with experience and 1) acting as GC once does not provide an opportunity to leverage the experience 2) mistakes can be costly.good luckHi Dan,thank you.

Allocate equity based on contributions: you provide the $235K HELOC and management, while your former boss contributes renovation expertise and labor.

Wise lenders have borrowers sign legal agreements and have them provide collateral that is worth more than the amount of the loan in case the borrower doesn't make the promised payments on the loan.

In return for excellent service I'll be offering repeat business and I'll happily provide referrals to my existing investor network for those top performers.