My biggest question is hardware and if anyone has insight on the costs + time for DIY with the right tooling versus using a service?

I am trying to decide if it should be placed into an LLC for increased personal asset protection, versus only having an umbrella insurance.

Just check out your ROI in SPI versus the other locations if it doesn't really matter to you where you invest.

So, in my expereicne, it becomes more a matter of "who is the most qualified" versus "how fast can I get the hosue rented".

Look at your location and see how easy access it is, how much closer or farther to the customers, versus the other competition in town. 

Your comment made me think though in relation to the costs of foreclosure in a geographic sense and mentally compare to the discounts we apply when we purchase a non performing loans with no foreclosure start date versus LTV norms for HML.There is a difference amongst states due to foreclosure proceeding times and being judicial and non-judicial.

I think your agent is not a property tax expert.You want to look up the process yourself for your area and see how it works.You also want to investigate HELOC's and any collection repurcussions in your state versus a regular loan if you default later on.Some properties are under assessed and not over assessed so just make sure you have a strong case or your tax bill could go up instead.

Scott Williamson,I am in agreeance with Steve L. that you need to run an analysis to determine if you will benefit more by holding onto the property versus cutting it off.You have to factor in any possible tax benefits, future possibility of refinancing... etc.

Also, the rates, points and term will vary if you have a great deal and have lots of experience, with significant cash to put down, versus being a beginning rehabber with little cash and a thin deal.

I can't speak for other rehabbers, but I like to ensure that my properties are a little nicer (and have some appraisal-enhancing features) versus the other properties in the area.On the rare occasions I'll get an opinion of value, the goal is to determine not what the after-repair value is, but to determine what I should be doing to the property to get the most bang for my buck in terms of resale and appraisal value.I'll sit down with my appraiser, and he'll tell me what the property is worth if I do a typical renovation to match the neighborhood, and then he'll make recommendations on what I can do to increase the resale value and the appraisal value at retail, as I don't want the resale value to be limited by the appraised value.My appraiser is more of an adviser on what upgrades I should do, in addition to just giving me his opinion of value for different levels of rehab.If you want to help investors, that's what you should strive to do...not just do a standard BPO that may or may not reflect what the property will look like and that doesn't help the investor determine what renovations should and should not be undertaken.You can value the home in good condition and compare it with like comparables from around the area.