Diversify when you don't have knowledge...specialize when you do.

Most people tend to specialize.

@Alex Howard we specializing in structuring purchase money mortgages...and I do a few of these a year...my personal play is a little different.

Special order returns from Lowes. 

@Evan DerheimYou want to consult with an attorney to determine what the best legal protection will you should be(LLC vs umbrella Insurance).From a tax standpoint, there won't be an income tax difference.Please be mindful that you may have to pay the $800 minimum fee requirement for CA with the set up of an LLC.Regarding connecting with a CPA, there are multiple CPA's/Accountant's on the messageboard who specialize in real estate taxation.

Leah, I am veteran and specialize in helping first time investors find turnkey properties in the Dallas/Ft.

What's special about this market value property vs the thousands of others also available on the MLS? 

There are several other factors that could weigh into the final verdict: phone coverage, internet speed, phone purchase specials, coolest commercials, etc.… Then, after you go through the entire purchasing and set up process, you end up with something that costs you more than what you were promised in the ad, begging the question, did I pick the right company?

Not sure what you mean about a flood-type situation, but the HOA has a pool of money for certain repairs and if that money is not enough, they can issue a special assessment, which is a one-time fee that requires all owners to pay a certain amount to cover the costs.

Some lenders are more aggressive than others, and that also depends on the deal specifics and what type of loans the lender is looking for/specializes in.