So be careful of that.

Appliances do break and you need to be ready take care of the bill when that does come around. 

Fannie/Freddie do NOT care if you transfer your property to your LLC. 

@Josh Smith just like any rental property you buy, manage, rehab, etc. nobody cares as much about your bottom line as you do.

She would be putting all the cash down for the property and I'm a contractor and would take care of all of the rehab work along with finding the house, dealing with real estate agent etc. how can we make it so that it would be 50-50 ownership of the property and all future profit? 

Instead, investing should be a means to taking care of our needs and improving our life style.

The main challenge was timing the listing perfectly, but with careful planning, we ensured a swift sale.

You are taking over for someone who didn't care at all about the rules and you want the city to just be like, "yeah, this is fine"?

The person who comes into money but not a lot of experience in real estate should be a little more cautious right now.So overall, I am not saying - do not buy, I am saying be careful.

So whenever the buyer wants to refinance or sell the property my lien comes up aswell and that's when I'm taken care of?