Hello all,I have been actively looking for my first investment property for the last few months and have had the opportunity to put in one offer so far based on what I am looking for numbers-wise.

I definitely would want the mail to go to the correct place.If someone wanted to sue you, the fact that you ignored changing your address would be a good argument that you are not maintaining corporate formalities, potentially having the protections of your LLC ignored.Most states have annual filing requirements for the LLCs so that would be a good time to update it.  

He ended up not replying to our calls, texts, emails and basically never returned the money.

We have agreed on a buyout price of $100K (initial investment) but he also wants me to pay all closing costs which was quoted $22K - That seems really high so seeing if this is accurate?

So the lender keeps their commission haha.You can use your purchase value to refi down if you like.

:)  Happy to talk 1-1 about ideas as we're finishing up our current remodel project on a duplex in Beaverton.And good luck with the search, hoping to hear great news so I can draft off your learnings when ready for my next one!

You can shoot me a DM to chat, I do a lot of work in the SoCal area.. 

We will have tenants for 3-6 weeks following closing so theoretically we could insure on a traditional policy in the beginning, as it would be much cheaper.

Cash flow is not its main power.

Hi Matthew, checkout this post i just did on this subject: https://www.biggerpockets.com/forums/617/topics/1161394-call...