Knowing my customer base also afforded me the ability to conduct business and reap the rewards of many satisfying referrals.StephenGallagher

Thanks Henry, I'd go a bit further and insist that you use the LLC name on ALL documents that are conducted in the business.This is great advice to start for a single member LLC, but a bit more to unpack when you add equity partners.

If the deal doesn't work out, then I simply lose my option fee.Has anyone ever conducted a transaction like this before?

Ted's brother Greg is going to have power of attorney for his mother Chelsea soon to conduct business on her behalf.Greg and his brother Ted want to sell me the property for 230k.

You can definitely build as you go, not all at once at the beginning.Unless you are using leverage or using the IRA to conduct a business (i.e. multiple flips per year) there are no tax considerations. 

You want to move up the 80/20 leverage curve from technician to investor/entrepreneur.In Bridgeport, CT and Texas the investment is about 10% of rents collected which frees you from taking resident phone calls, coordinating maintenance, leasing vacancies, accounting P&L's, conducting inspections and making property payments.Owners often times suffer from "death by 100 cuts" when having to handle all of these small items, missing opportunities to achieve bigger goals.

@Patrick PhilipYou're going to need to conduct a Comparative Market Analysis.

Can I send a written notice to conduct a routine property inspection or do I need a cause (potential lease violation)?

@Cortie Wetherill III the best thing to do here is to file a lawsuit in small claims court, claiming economic damages to your business (rental unit) as a result of the neighbors conduct.  

If so, those might hurt your appeal to an online shopper and could hurt your ability to consistently fill the unit(s).