Low insurance" is concerning to me, as Athens gets a LOT of high wind / weather / tornado activity for unknown reasons - they just got hit again last weekend. 

One CPA is telling us that we need to file a partnership return for all LLCs and the other CPA is telling us that we can place all properties on our Schedule E and use Schedule C for our property management activities We like the Schedule E and C approach because it's cheaper.

Yeah, various factors kept adjusting but for majority part it was the same sport. 2020, everything changed.

The market still has relatively low entry points compared to other major cities, making it possible to find multifamily properties like duplexes and triplexes in the price range you’re targeting.

There are many STRs that do quite well in the suburbs of major cityies Off the top of my head, I can think of one of the STRs we manage that is 40 mins outside of Dallas and it has a great occupancy rate.

., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

I’m also an active member of the local landlord association in Joliet (JRLA), which has been a great resource for networking and education.

I vet a lot of passive offerings and am particularly active in MHP, SS, and MF. 

Make sure you know when each of the major holidays and events are in Aspen to price accordingly.