Hi all,I'm making a trip to KS (from CO) in a few weeks and will be seriously considering a few properties to be used as BRRR's and for mid term rentals.Question for this group:a.

I found a deal through auction (3/3 1427 sf, Colorado) - $177K.I wondered if anyone had purchased this way before, and what landmines should I be aware of?

This is 100% dependent on the local housing authority and of course being in the Atlanta market the multiple authorities we deal with are filled with inept government workers and corruption.The question you should ask yourself is knowing what you know about the government; do you want to be in business and co-manage your property with them? 

As a beginner, you can learn a lot from your uncle with a few rentals in another state or a co-worker who's on their second house hack.

.- Co-GP or partner on a larger syndication or JV purchase of a large multifamily.

.- I also check drains, air filters, light bulbs, Smoke/CO Detectors, and any other incorrectly functioning items.

Once you start co-mingling the LLC's business with anything else you give an easy and clear reason for anyone suing you to claim the LLC isn't acting like a separate entity and "pierce the corporate veil" meaning that they could use that as a way to come after your personal assets as well.

His roof ‘inspection’ was done with binoculars and he missed almost a 5k repair that was fairly urgent—so you may not want to use that co. either.

My life situation:I live and work in Aspen, CO from December - April.

Do I have the 20-year-old provide a co-signer and have the 17-year-old be an occupant instead of a tenant?