Later payments if after the one year anniversary would be at CapitalGain rates.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

We finally close with title insurance.14. seller is holed up  its a massive hoarder situation as bad as I have ever seen.15. another 6 months to get eviction.so about 30 months later we finally take possession and bull doze house and built three new homes.  250k in out for 30 months  another 30k in legal fees..

My first property was a duplex, and then a year or so later she bought her house, and we moved in together living in MIL suite basement and rented out the rest of the house.

We closed about 3 weeks later.

Two months and $20k later, I was out of money and now my contractor for this house was pulled into other projects.I don’t blame him.

Apparantly that didn't work out for them either as they sold all their properties a couple of months later.

You can later transfer the property to the LLC, but be aware it might trigger due-on-sale clauses or additional costs.

My wife and I just bought our first condo over the summer and plan to turn it into a rental later on down the road.

Over the summer my wife and I bought our first condo with the idea of renting it out later on down the road and kicking off our investment journey.