Purchase the home with the condition that the tenants have vacated.

The way to extend this is to start looking for the acquired property BEFORE you settle on the relinquished property. 

@Venka Pulla Many smaller PMCs are unprofessional, they can also be vindictive.So, suggest you get all the info you can from your Owner Portal before terminating them.Also, hire a new PMC BEFORE terminating the current PMC.Then, terminate and work closely with the new PMC to get tenant payments switched over and whatever documentation is missing.Hopefully, you'll screen for a new PMC better than you did to pick the current one!

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

Do you prefer Flips or Rentals? Or does it vary by area

Hey @Chris Pratt, I'm also in the LA/SFV area.

What is the long term plan for the city and the state?

I'm planning to put in my first offer on my first rental on a SFH in Kansas City in the next day or two.$140k offer8% interest rate20% down8% management fee5% vacancy5% maintenance 5% cap exI haven't gotten insurance costs yet but it's been suggested that I plan for $2k per year. 

Hi Ryan,Welcome to the landlord journey!

Here is my simple Top 5:1.Review the market – Understand the trends and conditions in the area.2.Analyze the property and the numbers – Ensure the deal makes financial sense.3.Visit the property – There’s no substitute for seeing it firsthand.4.Meet the team – Whether it’s your property manager, builder, or contractor, relationships matter.5.Complete inspections and appraisals – These protect you from costly surprises.If all these boxes are checked and the numbers work for your goals, then it’s likely a solid deal.