In total, including money lost from rent, legal fees, and repairs, the situation cost almost $30k.

And while these groups help you a lot with the actual strategy, the best part is the network you'll gain which pushes you 10 times further then googling all the free stuff.

@Sharon Porter,Investing in a state-controlled property like this can be an opportunity, but it's critical to understand the legal and logistical nuances.

Buildium's 3rd party will issue the 1099 to the PM company.

@Nicole Shoaf - the fear part is some of the hardest aspects to get over.

Legal Protection – It's important to have a solid contract in place, typically a promissory note and a security agreement that outlines the loan terms, interest rates, repayment schedules, and collateral (often the property being financed).

I've used a third party management company for all of them, and have not seen any appreciable difference as far as how passive they are.

Raising money is all about marketing and sales (not real estate specific) so either hire marketing agency and read sales books, or hop on some LinkedIn courses on marketing and sales.Not sure the legal structure to use: talk to accountants and attorneys.Need deal flow: talk to brokers and go to a lot of networking events.Lending terms: start calling banks and loan brokers.From there, it is all risk mitigation. 

REIA's, BP Meet Up's, General Cow Tipping Parties?

Registering as a foreign LLC allows you to maintain continuity with your existing business structure, branding, and EIN while operating legally in the new state.