My question is do I go forward with purchasing the property and deal with the higher insurance and potential hazard or is it smarter to walk away?

Which state are you looking to make a purchase in? 

Sandra For transparency purposes, I believe you meant to say that you purchased a turnkey property from Memphis Investment Properties, not Memphis Invest. 

If this is your first real estate purchase I would stay away from auctions, there's too much risk involved especially with where price points are in your market.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

@Nick Henry this also comes down to how much time you have available and how much effort you are able to put into purchasing a home or building and doing renovations and then finding quality residents to live and take care of your asset.

Not wanting to sound like an attorney, but companies like the teaser because they are on firm legal ground: so long as company clearly tell consumer prior to purchase when they must cancel by [knowing statistically enough will not comply in time to make the teaser marketing profitable] be it rebates on computer software that many folks will fail to mail in, or real estate CD w/â€mentoring†or whatever that some unfortunate folks will not timely cancel, or Chrysler minivans forget to return….Legrand was very ethical each time I or my partners have tried his teasers [no Mr.

I am wondering for those who have an LLC for their rental properties if they are purchasing properties with the LLC or if they are purchasing under their name and then transferring to the LLC?

So pretty good equity position within a year plus cash flowing well based on a $325k purchase price.

Therefore you have to rely on contract, if its a new build, make sure its in the Purchase Agreement.Why?