The downside is that you are not able to write any losses against your other earned income.7. 

This tenant was poorly screened and is clearly not able to afford the present rent.

It was a bank owned property and two people before me tried to buy it and for whatever reason were not able to get it.

Said she has a lease but was not able to produce one to show me.Long story short, I had an eviction service serve her with the 90 day notice a week ago.

2) My county [b]does have online records, but after searching the site, I am not able to narrow down without going through thousands of listings. 3) Do I just need to bite the bullet and pay $50 each time for leads or take the time to go through my county website?

Then for time invested you will have a learning experience but nothing else negative to happen.If you don't set it up this way then if the property doesn't work out you will be working constantly on it for free and saddled with close to 1 million in debt and not able to buy the better deals that come along.

If you are not able to find the financing for it then you can always use your cash and take out a loan for the rehab.

And PM me if you're not able to post on this forum..

I was really hoping that my experience (and the fact that I could prove my experience through this site and my writing and speaking on several notable occasions) would allow me to portray to contractors the fact that they shouldn't assume I'm naive or inexperienced.

Unfortunately, I'm not able to help you regarding the LLC.