Insane that the mayor's office has a nerve to sue you!

I like to do a pre-screen (mini cross-examination) right there on the phone with them and I like that I can pretty much put them on the spot with questioning.

Also, subfloor wasn't so sturdy upon closer examination, and the drain was lead pipe, which wasn't in such great shape; replaced that with PVC.

I want to examine a simple scenario of starting a single member LLC in your home state to buy and hold rental property (1-4, 5+, or commercial, doesn't matter), avoiding all the different situational complexities as much as possible.

I'm in the process of studying for my RE license and will take the exam in Jan '16.  

Examine the leases to see if it talks about who pays the bills.

I also passed the US-PAP Appraisal Exam in NYC, but have not done my 2000 hour "trainee" portion as of yet {I was an appraiser in California - no reciprocity w/NYC - coastal rivals :(}. 

When we examined further not a single property made more in cash flow vs appreciation and it was not close either.

The property doesn't magically become a rental because one puts something down on paper.We have to examine the substance of the transactions. 

As a past bank examiner for FDIC, I can assure you banks were not in the real estate business and have been under stringent rules as far as disposing of property since 1939, now that was before my time.