You agreed to rent the entire property to them for $X.

This means they will have practically complete control over whom to rent, how much to rent for, and how much to charge for repairs, etc.

@Sequoiah BriseñoCalifornia multifamily sale and 1031 exchange purchases mandate landlords or property owners to issue 1099s for payments of $600 or more to a sole proprietor, LLC, or partnership, and request a W-9 from each vendor by January 31.Good Luck!

Has anyone ever heard of this or do you have any suggestions for a new MLO with no experience?

Although I won't have time for lunch or dinner on the 10th, I am available for coffee at The Athletic Club of Columbus or at my office on Parsons Avenue.

After expenses, it provides a net income of $1,500 per month, making it an ideal investment for long-term passive income.

Thank you for your input!!

I found this property driving for dollars after leaving the barbershop 🤣 and noticed it was being trashed out.

Just depends on your risk tolerance with the fixed or variable rate preference and which makes more sense for cash flow. 

Nothing better than four draws and never a lot of money up front "for materials".