we just sucked it up.. and I got fed up with that business been in  it long enough so my solution was to cash out at what I perceived a economic top.. at least for me who is on a back side of investing career.. at least as it relates to rentals..  

The simple solution is if the other memeber can refiance on thier own to simply do a buy out at that point.

Your point is that HML's are not the solution for those with little or no money, a cash partner is a solution.

It’s really hard to find people that do good work and stick to a schedule, it’s a few out there that take their business serious.Another solution is to consider moving to northwest Indiana.

Someone send this idea up to the king or Queen of BP if there isn't already a solution. 

I bought my first investment property for vacation rental and i have a question about some locking systems.I've been thinking about putting remote controlled locks on the doors of my property, so i can monitor the locks from home and send out temperary access codes to the clients i rent out to.Does anyone have any experience with these systems and does anyone know a good reliable brand for these kinds of locks.The reason i want to go this route is because i am looking for another solution than a property manager and to have more control over my property.

They are also extremely long lasting and durable.Good luck with selecting a solution.

I love connection, deals that provide value and opportunities that allow for my solution based mindset to thrive!

@Charles H.If your activities rise to the level of a 'trade or business', a general non-specific search in a new geographic area would be start up expenses under IRC Sec 195.Once you've identified a specific property, expenses are capitalized and added to the property's basis if acquired.Expensing the costs, even through an active LLC/ "investment LLC" is not correct treatment and will get adjusted should the IRS ever audit you.Encourage you to work with your tax CPA/EA as it's very possible not all of the travel expenses are 100% business related.

But yes for one property the solution that gets you maybe 85% of the way without the geometric progression in costs is probably an LLC owned by a trust.