With as hot as the market has been recently, many folks who bought in 08 are realizing that they are no longer under water.

Amazing there are still folks who think NYC isn't way overpriced.

Due diligence often gets boiled down to some checklist of items folks seem to think they need to do.  

Different strokes for different folks I guess.

Low income folks do not have credit to protect.Good screening is key to low income success, but there is still an element of rolling the dice.  

Hi folks,I've read plenty of posts and articles about choosing between sole proprietor and LLC.

Not done this way, I have seen folks capped at 1 BRrrrrr per two years and/or have to use hard money. 

@Matt Bowers  if you don't need the cash flow.. you could just use all the cash coming in and maybe throw another 2 to5k a month at it and pay it off as fast as possible.ONe tenant in a High end home is a breeze to manage so think of your time and your peace of mind along with other things. the most successful RE folks I know have substantial amounts of free and clear properties.. they can weather any storm..

*shrug*By contrast folks actually residing here, that are here lawfully...Teach them how to hack FICO, they do exactly what they are told.Teach them to season funds, they do exactly what they are told.Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera. 

@Eugene Lee  those rules were spawned out of the Great GFC... not germane to todays markets in most areas.you can though still buy in areas were there is more housing than people to use the housing and find those rules apply and even more.. those are what we call cash flow markets that's all they are all they will ever be ( in most likelihood) so if your going to invest there only reason to do it is to hit those 2% or better metricswhere we reside on the West coast we generally look for break even and make our big bucks on having our tenants pay down our debts and of course appreciation... you have most folks that live in the non appreciating markets and their mantra is  ( cash flow cash flow appreciation is only luck its not investing  LOL)  and you have those that have gotten stupid wealthy buying west coast assets that double or tripled in value in a 10 year time frame.. take your pick..