I spend less than an hour a month dealing with them. 

So spending 200k on an ADU will likely not increase your property value by 200k. 

• The “Tour Guide” makes the opposite mistake: they spend all their time pointing out flaws and justifying a low offer.

A local agent recently got sued for calling an old client who was on the Do Not Call list. It seems ridiculous, but that's the world we live in now. With the increasing number of lawsuits and penalties for TCPA violat...

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

So buying the right location will become increasingly important here to protect you in the long-termFood for thought.

At one time, I told people to spend money on a skip trace so they could file the in personam QT lawsuit (the one where you can served lawsuit papers on all defendants) and avoid the expense of the in rem QT lawsuit (the one where you need a GAL).

We don’t use the 70% rule for anything except to decide if we’re going to look at the deal… and even then we just want to see if it’s close before we spend time running numbers.