Of course all the great members get many thanks as well for having answered questions and picked up the phone for me.

As to the income, many people on here can attest that it's actually not hard to live on $50k when you have no mortgage, no car payments, no other debt, you have health coverage, low taxes, etc, and fortunately that number goes to $60k next year without considering any other cash flow (purchase of rentals, may pick up part time work myself for extra savings, etc.).

Yes, Home Depot has a bid room for Pro accounts and anything over I believe $2500 can go through the bid room.We are picking finishes for a 284 unit deal we are closing in a few weeks and looking at ordering via HD Supply.Some items we may source directly from the manufacturer in China.

So everyone will give you a different  opinion but the point is going to be this .....”Just pick one, and go with it!”

If we are looking at a house for both of us strictly, we need to look at a different price point (more around 180k range) and than consider the next 1-2 years to save for a down-payment on an investment strictly.My question to this group: What are some pros and cons that you think about when determining - peace of mind living in your space vs. looking at the space as income-generating/business mainly?

To answer your question: you should consult with an incorporation attorney to determine if single vs multiple LLCs are right for you as far as mitigating risk or other issues.Congratulations and I wish you nothing but success, Spencer.

I highly recommend  you look into that.Something you might want to look into before you get started1) Soak up as much info as you can so that you know what you're doing.2) Pick a niche and try not to get distracted by various means of investing.3) Build your team before hand - insurance agent, local community banks, lawyer, realtor, property manager and handymen.4) Run numbers on a LOT of properties just to get familiar with the process.5) Research on neighborhoods that work out for you.6) Network.

They responded with " the bank cannot determine the meaning of the trust" as they just want to see the public deed in my name, non subjective.

@Aaron Klatt I have yet to determine whether or not vacating the property is going to be challenging or not.The Update:-I have signed the purchase agreement which will close this property in 10 days, all cash deal, I bumped the purchase price up $800 to appease the seller with the rent request, I will inherit the tenants.

It was determined to be a cash only deal.