Now I'm thinking of not having permanent housing at all.

I will findout more information about all the great questions you posted :) Thank you.No inspections is all well and good, but that’s not the real issue.

Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”.Tenant Default: 20-30% probability of eviction or early lease termination.Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection.Vacancies: 20%+, depending on market conditions and tenant screening.Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.Where did we get our FICO credit score information from?

This community is great for getting all the different perspectives in real estate and learning from others.As far as the LLC vs. personal names goes, like everything, there are positives and negatives.

All the gurus use that strategy.

In the next 5-10 years, I plan to leave my current industry and transition to real estate full-time, so I’m especially interested in how this could impact that goal.Current FinancialsRoth 401(k) Balance: $105KContributions: $79KEarnings: $23.5KSalary: $109KContributing 6% annually ($545/month), with a 100% match for the first 3%Investment Growth Assumption: 8% per yearCurrent Rental Cash Flow (Pure Profit After All Expenses): $7,500/month (9 units)Potential New Property Cash Flow (Pure Profit After All Expenses): $1,300/monthCurrent Real Estate Portfolio Value: $1.4MAfter New Property: $1.7MWithdrawal Breakdown ($60K)Tax-Free Contributions: $45KTaxed Earnings: $13.4KWhy Only $13.4K Is Taxed and PenalizedMy Roth 401(k) balance is made up of:Total Balance: $105KContributions: $79K (75.24% of total)Earnings: $23.5K (22.38% of total)When withdrawing, the money comes out proportionally from contributions and earnings.

You have to add to your investments all the time to make your investment portfolio grow. 

If someone has a deal that they are up over $1m (including the small cash flow) and I was starting out, I would be all over the financials and the plan. 

All kinds of restrictions around. 

Hi Eric, I use Doug Lyons with Lyons Home Inspections for all of my personal properties and all of my clients.