For example - if your first property rents for $1000 and the PITI is $900 you have negative long term cash flow.

What are the best apps to use for a general all around app that has the most regarding leases and paperwork for new renters, tax organizing and property profit statistics and any other aspects of owning a rental.

Failure to do so may just negate the protection you are looking for.You should have title in the LLC's name, mortgage docs in the LLC's name, rent going to the LLC, etc.If you can't get it done properly for the time being, get the extra insurance coverage.Make sure to talk to an attorney to see if your actions are giving you the asset protection you are looking for.

I realize one of the responses was negative but that is ok as well, There is always a good and a bad side to investing and I like to see both sides of whatever I invest in.Thank you all for these Replies.

In searching them on BP I've seen old posts with some negativity about "why not just put your best offer forward up front".

I interviewed with a major brokerage and learned that statistically, most of their salespeople don't close a deal for at least 9 months, sometimes over a year.

Negative credit history including bankruptcies or repossessions is unacceptable.Applicant is preferred to have a minimum of one-year verifiable rental history.

Someone else on here may have dealt with them directly and can provide direct experience or you could save someone else from a negative experience.

When re reading your post i see what you mean about the landlord being somewhat negligent here however that doesn’t negate the fact this person has been a tenant for 13 years and alive on earth for 70 years .

(Not being negative, I am being conservative).Just so you know, an interior paint job here in CT can easily run you $8K for a 2000sq ft houseSo let's say it needs $20K in cosmetics repairs.So you are at $205K of reserved money ($157K + $28K)Now lets say closing costs and all purchasing fees are 10% of sold price.