Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Yesterday I found out that my old neighbor who moved away to take care of her father, inherited the house next door upon his death. 

I also know I can look at ways of borrowing against that equity (HELOC for example) but I also just feel like if I take debt on that property the cashflow goes down, and then if the association also takes the loan it goes down more, and at that point I don't know why it would be a better option than selling before August. 

and some guidance from the FTC is here: https://www.ftc.gov/tips-advic...Simple solution - DON'T.

Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.Good luck man. all the best!

While it might be good to focus on newer 3/2/2 homes, if you catch a deal that is 2/1 and in the city next door to your target, it is always something to consider.

@Joshua Christensen wouldn't expenses naturally be less if the seller's just spent about $75,000k on cap ex improvements? 

I'm Pratik Patel, a healthcare professional excited to join the BiggerPockets community.

This worked out to just under 4 months of available listing inventory in both the greater metro and the city itself.