Also, down the road (When you decide that running your own books is no longer fun and your time is more valuable than doing data entry and month end reconciliations) your system would need to be taught to an employee or outside accountant... it's a custom solution, which means that automatically the learning curve is going to be much worse for that person vs.

Some points about me and this property:- it consists of four 1-bedroom apartments - rented to young professionals- this is B property in a B neighborhood - current rents are $2300 ($550x3 and one $650 - the $650 is the newest tenant and the apartments are identical - so it sounds like the rents can be increased in the other 3 upon lease expiration)- it's listed at $139,900 and has been on the market for about 3 months- my calculation on this property is based on full asking price and current rents- The COC ROI is misleading based on the way I did the inputs -- the only cash out of pocket will be closing costs which I've been quoted to be about $7000  out of pocket. 

Each flip *should provide enough profit to increase working capital even though I'm repaying the 401(k) loan.  

You can always increase the liability coverage, or purchase umbrella policy as mentioned. 

Needless to say, I feel they are not going to respond favorably to my dramatic increase in rates.

The last thing you want is increased vacancy due to pest problems.

A LLC will likely increase your taxes not reduce them.

My advice is buy, but purchase on today's numbers not what it is going to increase to.  

You will be able to make accurate repair assessments and estimates which will lead to better buy-side offers for you and much greater customer appreciation from your buyers.Owning your own investment properties is one of the best ways to learn, but that takes some time. 

Minneapolis has had and increase in rents of 8.85% in the last year.