Starting your journey in the US real estate market sounds like an exciting venture.Best of luck, and we're excited to see your success unfold!

As this opportunity just came up, it sounds like I need to do much more legwork and research of the area prior to jumping in.

So in this current economic environment, a "bad risk" is anyone that makes a claim against an insurance policy.The damages have been remediated, the interior of the home has been rehabbed, including a complete kitchen makeover.My insurance agent had difficulty finding me a replacement policy, given that the property was untenanted, and undergoing construction.

Most vacancy issues in stabilized multifamily is due to a stubborn owner holding out at too high of price.Vacancy is much more of a factor in retail and office where tenants aren't so easily or quickly replaceable.

@Brian Hunsaker sure a paid off property netting you ~$10k annually, or ~$15k before depreciation, sounds fine.The potentially "silly" way to reduce your taxes is to leverage out your properties. 

It sounds like you have quite an impressive background in RE. 

I renovated the property while he held title and assigned a replacement buyer in my place at the end to save on down payment and holding costs.

Hi Jake, Using a bank authorization form to ensure smooth payments of rent sounds like the ideal way to go.

I plan to fix foundation, do roof replacements on both structures, do bathroom remodels across 2 bathrooms, new flooring, electrical repairs, add fence & gate, more landscaping. 3. 3plex is held in a LLC of mine. 4.

It sounds like he is trying to do too many projects and does not have any money to get another one going.