For those that haven't made this mistake or are just getting started, this is exactly why you don't pay contractors upfront and why all the contractors on here or anywhere else who argue differently should be ignored.

Don't go formal in my messages - I don't even say "To whom it may concern", rather I get right into the message - something like "If I have a space for a lease and wanted to see if it would be of interest to ABC Co., who would be the best person to speak with or to email information to?"

They could argue that even though you have a signed lease for that term, there are sub-tenants who don't meet that criteria.I would DEFINITELY check on your insurance AND his! 

But again - not a professional, and others might argue counter to this.In any case, doing research and learning now is a great strategy.

Then send out regular correspondence letting them know how your business is going* Most people are interested in RE in one way or another* Don’t let anything stop you from buying a deal * Find the deal, then be determined to find it * How to help a property manager without being licensed yourself — show properties, handle tenant phone calls, contract services* Look into property management requirements * Emerging real estate markets — David Linder* ABC’s of real estate investing — Ken Mackelroy——————————————Ep 249 Josh Daniels * Live-in flip — more time to work on things, not in a hurry * 2 of last 5 year rule — able to sell tax free* Multi family units will have more trouble with tenants sharing walls — expect more drama* SFR’s attract families vs apts that attract a different crowd * Multi-family — more entitled feeling people, and rightly so as you’re responsible for the place* SFR people tend to care for the property more * SFR — tenants are responsible for the property (mowing eg) and utilities* Keep emotions out of the buying process — have neutral parties keep you in check* HELOC — use to buy properties with all cash.

So now you have back and forth arguing trying to get them to pay but they only pay partial or nothing. 

You can get appreciation over time (I won't argue that) but I'd imagine that in an apples-to-apples market you pay some of premium that for new product. 

None of these areas are as comfortable for me as investing here at home where I'm much more familiar, but it's hard to argue with the cost of entry in some of these other cities. 

Hey @Kyle Steiner, I am not a CPA or an attorney but I believe @Logan Allec is correct, you cannot.I would talk to an attorney and CPA in your city but my CPA suggested I open an S-Corp for my flips(and also setting up a contracting business) to help minimize self-employment tax but I also have an LLC opened for properties I plan to hold, I'm sure people will argue against that, and one reason is if you plan to have multiple exits(you can't sell the property and hold onto it) doing so under an S-corp can be a problem in the future.

I would argue that working with a remote CPA who has experience in real estate will likely be a better fit for you than a local CPA who is a Jack of all Trades.