I have a current tenant who would like to buy a rental house he's leasing.

But then again, I've heard that as long as you keep everything up to par with the llc's basics  (separate bank acct, current llc status w state,  properly funded,  no co-mingling, etc) it holds up in court even if single member.     

The market is currently experiencing a period of adjustment, with a slight increase in apartment vacancy rates to 7.3% in Q4 2023.

Fast forward to yesterday(appraisals are done, waiting on underwriting) after a text from the realtor about signing a document that says I'm okay with him representing me and the seller, I called him and brought up the fact that I'd looked over the purchase agreement and the rental agreement and nothing was stated about the rent increase, but it was clearly stated that ALL rental income even prepaid rents (the warehouse was paid in full up front) would be prorated to the buyer (roughly 2200/month)I'm at a crossroads on what to do, part of me wants to just ask for earnest money and appraisal fees back and walk away, but the cashflow of $2300 (current rents not counting warehouse) on a $105,000 property just seems to appealing to walk away from, what do the more experienced investors than myself think

I will move to the area in December and I am currently researching and reading a lot.

I am currently going through a similar situation and wondering what to do.

I'm currently looking for a local banker in Jackson Mississippi because I would like to refinance my portfolio of homes there.

I haven't set specific targets beyond this initial goal, but I may aim to increase my passive income to $5,000 or $10,000 per month in the future.Current PropertiesI currently have two properties:The Loft:This property is rented out long-term and generates around $300 per month in passive income after HOA and management fees.The loft has approximately $100,000 in equity.The House:This is a brand-new build (2024) that I'm currently occupying through house hacking.I invested $70,000 in the property, which means I have $70,000 in equity.My plan is to convert this property into an Airbnb or long-term rental within the next two years.Short-term rental comps suggest I can earn around $3,500-$4,000 per month, while long-term rental comps indicate I can earn around $3,000-$3,300 per month.Seeking AdviceGiven my upcoming financial situation, I'm seeking advice on the best course of action.

Not a solution, but going forward...Have all adult tenant prospects fill out applications which require their social security number, driver's license number, their birth date, their current address and their prior address.

Evaluate historical and current vacancy rates, aiming for decreasing trends.Demographics: For younger populations, focus on proximity to parks and schools.