Originally posted by Account Closed:I am an out of state investor, self-managing a rental in another state.

I have 500k policies for my units (required in order to have my umbrella policy), but I also have an umbrella policy equal to the value of my personal assets/ net worth so I'm protected in case 500k isnt enough. however slim of getting sued for over 500k, if they do and win, it will protect them from taking away your other assets like your house and bank account balances etc. get an umbrella policy in consultation with your agent.

I just closed mine with them yesterday and it's also a free immediate wire to any personal bank account you want. 

Is there certain classes (accounting, finance, etc...) that I could take that would help me?

Good Luck Account Closed to see if he has any properties up there that would be a good owner financed deal.

@Jay Hinrichs This was my initial thought and I talked to my accountant and he said that I could potentially rent it out for a couple of years and still pay no tax.

Account Closed No I am not yet in my option period yet as the seller hasn't signed my offer (which was accepting their counter from my original offer with a small caveat) but wanted to take a step back first before taking any further action.

The sell now price is substantially higher than the capital account value we would start out with but would allow us to get into multifamily. 

I opened a business checking account with my local credit union, but I don't think they're going to offer as many solutions to real estate and business lending in general as some of the other banks in the region can.So, I want to establish a relationship with another local bank now, to build on that for a while to help when I'm ready for more lending. 

Just mail him the legally required return of the deposit and the accounting statement for what you deducted, along with any necessary invoices/receipts, and be done with it.