Should any tenets, their guest, or anyone on the property sustain any injuries and the property is owned in the investors name only; their personal assets are at risk.Tax BenefitsFrom a tax perspective, and LLC formed with two or more members is classified as a “Pass-Through Company”.

To state the obvious, Craigslist, Backpage, eBay classifieds and similar sites are a great place to find fixer-uppers and the like.

@Victoria Ghafoor Have you tried contacting the town inspector to find out what criteria classifies a property as "abandoned" in that area?  

Any "show of appreciation" would have to be classified in other terms and not done at the closing table.I'm confident that you'll find a solution - perhaps with a "friendly" REA.

@Luis Vilar You are correct in spirit as it would be a gift to the parties involved, but when a parent co-signs on a loan and they provide a portion or all of the down payment it is not classified as a gift to the lender.  

Typically if the average rental time is 7 days or under it gets classified as active and moves to Schedule C (like any other business subject to SE tax) and is no longer reported on Sch E (like a rental)

I plan on starting the direct mail, and while that's doing its job, finding cash buyers by posting on Craigslist, backpages, Ebay classifieds, and connecting with other investors on BP - while eventually attending REIA meetings after the move.I've heard to build your website/company first before any marketing efforts and I've also heard that you should wait for the revenue before starting this aspect.

Hope this helpshttp://www.gillettenewsrecord.com/classifieds/comm...

So it's very common for landlords, especially in smaller cities, to finish basement rooms and classify them as "sewing rooms" or "utility rooms" when it's time to get an occupancy permit, and then rent the rooms out as apartments at market rates after they have that occupancy permit in hand.

I have a property I would classify as C-/D+ and there are days when I wish I hadn't bought it, but then I remember that one property pays my mortgage.