This situation presents an excellent chance for me to gain practical experience and establish myself in the real estate market.I want to use the capital I gain from this to dive deeper into the game.

I'm very new to real estate investing I'm just stuck on math part of real estate, like calculating the expenses and getting the NOI and etc and quickly analyzing properties to see if they are even worth a deeper look.

The areas near the suburban borders trend more towards the C end of the spectrum, where the areas deeper into the city trend more towards the D range.

If it got any deeper, you could always hire legal counsel.

Obviously, I have to get a little deeper in REI before making this move, but its a goal!

@Robert Shedden Just to dig a little deeper on your post..In the eyes of the law, I'm not sure that this guy is even considered to be your Tenant and you his Landlord at this point, as that relationship has not really been established other than verbal words exchanged.

You have 'hosts', property managers and full service property managers that will have on staff maintenance, cleaners etc and be a great resource for decorators, a/c techs, pool guys and marketing.Happy to dive deeper and have a call as there are many nuances to this market that you should consider.Best of luck!

Hi Jessica,Congrats on purchasing a home and best of luck on the repairs.Ideally, the costs that he has been occurring can be marked as contributions to his capital account and expensed my the LLC or expensed on his personal taxes as a supplemental business expense.Sounds like the record keeping is going to be messy and I can't tell you the best way to report this without getting deeper into the books/records to figure out whats going on.If you're open to remote accountants we can hop an a phone call so I can get an understanding of your situation and if we'd be a good fit.

Then go deeper and deeper.

If I were in your shoes, I'd start looking for off-market deals or connect with wholesalers to buy at a deeper discount.