Fortunately, when you're buying a property, you'll have an inspection period during which you can get quotes from contractors.Cashflow: You will not find a duplex in LA that cashflows with less than 20% down.

And of course he started it decades ago and the real estate he bought way back when made him a fortune.

So fortunate.

However with the market heating up, extremely low inventory, and plenty of cheap money to borrow we've were fortunate to have multiple offers at list price with less than 24 hours on market. 

I am planning to buy my first rental property and one of my friend adviced me to getthe LLC first to avoid loosing my fortune if the tenant sues me for anything unexpected.What do you advise RE gurus?

Now, a lot of notes provide for the note holder to be entitled to rents should the note be in default.... fortunately, I've never had that as an issue.I just don't like to get complicated and for only a few (6?)

Fortunately the home owners got angry and forced the HOA developer to pay the taxes.

So far I've had the good fortune to have 100% rents coming in, and although I'm concerned how much longer that'll last, I feel strongly that this is a great opportunity to be in real estate, and to keep investing in real estate.

Luckily I was fortunate to be in a financial situation to invest in real estate.

Fortunately, you don't have to guess what your market wants!