The guidelines stated managing a rental property required minimal time and effort and claims of "real estate professional" status based on this should be scrutinized closely.

But if they have minimal retirement savings (less than some number pushing or over a million) and has not been working, taking on a big debt at this point is going to be a HUGE and long-lasting lifestyle change.

The roof is a 12-12 pitch roof, this gave me the ability to have 3 bedrooms up stairs, laundry, and a big bathroom with a double bowl sink.On the first floor is the mastr bedroom with it's own bathroom.

Some pros: no large cash down payment; no bank/lender qualifying in order to control the property; ability to walk away from the deal at the end of the lease if things are not working out, and minimal risk.

Nathan, I knew I could count on you to pitch in on an analysis.

We’re thinking of selling a group of rental properties we rehabbed and rented out over the last few years and wondered if anyone had any advice on how to approach it; we’re not trying to pitch the deal here in this thread, but looking for anyone with experience with group sales and feedback on best strategies.We have 14 units in SW Florida, spread among 10 buildings: 6 single family homes and 4 duplexes.

I am starting out and considering setting up a Series LLC to minimize risk.

The only option I really see is to offer a contract at their payoff amount ($139k) and also pay all of the sellers closing costs (no realtor involved to seller costs will be minimal).

So I am familiar with the maintenance costs (very minimal) and handling ins, taxes etc..

This allows us to market the projects in a responsible manner and minimize risk associated with the inevitable public release of information related to these types of deals.