@Jack Anderson - I also agree with the other folks - you need a real estate focused CPA that really understands these issues and the subtle nuances involved in all of those different areas.Many CPAs are able to serve you virtually and you'll want to make sure you consider that as the talent you need is probably more important than that person's physical location.Best of luck to you!

It could very well be the route that is "cheapest" now, ends up being substantially more expensive down the road.If the costs above are not worth it to you...maybe pass on the LLC and get yourself a good insurance policy, and maybe an umbrella policy personally.

If you are offering some on site services you will need to be located physically where you are managing, as we are. 

I guess my question would relate to the wisdom of pulling the trigger now and paying more for a property that could well be purchased for significantly less in another 3-6 months or maybe even longer if the down trend is expected to last a few years.

I only had 5 days to prepare and learned that if I fought it and lost that if I wasn't out 5 days after the judgement the sheriff would physically remove me.

However, (personal opinion) I do believe that the Beltline represents a real, physical asset that will help values stay strong in the long term (assuming you don’t overpay).

But in general, the physical asset, the finances associated with the asset, and the location of the asset are a great place to start when evaluating a property.Good luck!

This could very well be $15,000 give or take. 

So, mathematically, you should continue to rent.However, for your longterm financial wellbeing, owning is better than renting and you build up equity and benefit from rent increases from owning investment property plus all the tax benefits you don't get from renting.I would look at buying a duplex in a market like Lansing, MI.

A cash out could very well be 50% to 70%, (or they may not do cash outs) depending on the lender so you'll need to ask and shop  around.Each property must be appraised and title insurance obtained on each, so you're not saving much in loan costs except they may close as one transaction, filing fees will be applied to  each property as well.