I have lived in Memphis all my life but do not know if this is the market I want to pursue.

We are all here to help you learn and grow.

Quote from @Alfredo Cardenas: Hello, yes, there are all long term rentals.

Dear all, I would like to create a Single Member LLC to hold a long term rental property in Texas (I am living is Texas).

First I want to thank you for reading, I am new to the investment market and the idea is exciting and terrifying at the same time.A few facts:Purchase Price: 325,000Rental Income Estimate: $5250Property details: This is a 3 door property:1. 1/1(main building)2. 3/2(main building)3. 2/1(separate building)Repair estimates to get all 3 properties up and running: $145,000 - $200,000I do not have a ARV since its very unique there is not anything we can compare to but I am looking to get a third party appraisal.Plan is to do a mortgage for the property with cash down payment.

Not all permits are taken at this point, but the max amount is around 1000 total STR permits in the immediate area. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Hi All,First, thanks for the forum and tremendous expertise and support.

Depends on the contract language, but under typical language the seller is obligated to the sale if all contract terms have been met, and the jilted buyer can usually get a legal block prohibiting the sale to another party.

I am waiting for those 60 days to complete as soon as possibleAttached is the letter I received from county today as this tenant keeping junk cars and trash all around the property even after informing him multiple times.