I think I will continue with the LLC strategy but also emplace an umbrella policy.  

Location: Clayton CountyLess than a mile from public transit2 miles from Elementary, Middle, and High School Reason for selling: Seller is motivated because her husband passedBought the house in 2002 refinanced in 2009Remaining Balance on Loan $112 Monthly Mortgage is $977House 2100 sq Comps in the area 95k Seller has 5 other rental properties she wants to continue to maintain.

🚨Location: Clayton CountyLess than a mile from public transit2 miles from Elementary, Middle, and High School Reason for selling: Seller is motivated because her husband passedBought the house in 2002 refinanced in 2009Remaining Balance on Loan $112 Monthly Mortgage is $977House 2100 sq Comps in the area 95kSeller has 5 other rental properties she wants to continue to maintain.

So i believe now just start putting money up front making them really nice and bulletproof to continue moving forward and stop me from holding me back.

Right now your current P&I on the $240k balance = $1112/month (estimated) + $443/month P&I for the investment = $1555/month but could continue to go up once it enters that adjustable phase, so $1555/month could = $1655/month in 3 years, $1700/month in 4 years, etc etc. 3.

I would assume that your tenant wants you to provide a copy of the receipts for the furniture purchase and will either pay you what you paid and keep the furniture or decline and continue renting it fir $50 month.

First off, let me know when you're in Dallas, I might be able to introduce you to my partner when the time is right ;-)That said I highly recommend using the awesome tools provided here on BP.A few more tips to get started or continue your learning:Find and connect with other BP members that are in your area.Set up keyword alerts to be notified of the topics that interest you.Read Beginner’s Guide.Check out BP Podcasts.Find upcoming real estate events and meetups near you.If you'd like to tag someone in the conversation, type @ followed by their name and then select the name of that person that appears below the comments box.

I assume the remaining funds available will be going to us to continue the project.

I guess what I'm looking to know is if we should continue our pursuit of buying a house in this area, wait to see if the market comes down some, or what strategies others have used in such a high market.

Yes, it continues to be so true!