So my mission today is to take away that guilt.Choosing the right Tenant can be very crucial as to how many evictions we may possible encounter.

I've encountered situations where a property owner will include their primary residence in their POA but will leave out the one I want to buy.

@James Sestito - I've encountered something very similar to this when I wanted to get an OO loan for another property literally a block down the street from me.  

I am really unsure how this would be figured and want to be sure that I get it right as the pre-conversion cash flow has a thin margin where as after conversion it would cash flow quite nicely.If anyone has used this strategy I'd appreciate learning about how this worked out for you and what challenges you may have encountered in the process.Any help the community could provide me in working through this would be greatly appreciated

Once you get around 6-8 rentals you start to better feel the "portfolio effect" - cash flow thrown off by the portfolio is (in most cases) enough to cover the occasional heavier repairs you may encounter and, absent repairs, you will more quickly be able to acquire the next house. 

And Jim, isn't a letter of intent leave you at more a risk the seller backs out while you're working to bring buyers aboard whether by the seller losing their nerve or encountering another more favorable offer?

All mail was going to his office, did not know the house was in foreclosure until stickers were on the door from the sheriff.

Based on my recent "lurking" this site appears to have a more professional and mature tone than many I have encountered, thus I felt compelled to join based on the quality of the interaction and value of the forum posts.  

I've encountered a few agents who won't put pen to paper for a simple cash flow analysis and it would be a great resource if you were able to show the client what kinds of returns they can REALLY expect.

I would like to use the entire portfolio and its combined equity and be able to work toward a line of credit of sorts, but that seems to be difficult these days.An LLC owns them all, does it make sense to quitclaim to an individual owner and then refinance (if this option is even out there anymore)There is a good amount of equity there, it just seems that with none completely paid off it is difficult to put that equity to work.Thoughts from any of you that have encountered this?