Mine are long term rentals (in 2 states), 3 SFH and 1 mult-unit and they recommended a Wyoming Trust over a Holding Company over an LLC for each property.

We normally do not seek judgement due to the expense that is involved, even after you win you have to continue to renew the judgement every year.We put them in collections and have it hit all three credit bureaus.

That being said, if you're 23 and you don't own a home, I really do recommend starting with a house hack as you don't need the 25% down capital to get started and you kill 2 birds with one stone by getting a rental and having a roof over your head. 

The most successful loans are those that do not procrastinate and get the appraisers In ASAP so you can get over any unexpected bump in the underwriting process.

Also, my income is over $150,000.

It’s a market with its own set of challenges, but it’s also packed with opportunities if you understand the nuances.Happy to help if anyone here has questions about Detroit investing or wants to explore what’s possible in the market.Looking forward to continuing our conversation, Mattin!

It sounds like you are overly confident in your Excel spreadsheets..... 

I stopped paying the interest on the loan over a year ago.

Hey Rosette, just sent you a message over.

My idea is to put 20% down on a $1 million property, with the remaining $800,000 paid off over 8–10 years, depending on how much yearly income the seller would want.I’ve seen a lot of discussions about using seller financing for investment properties, but not much when it comes to primary residences.