At a minimum, they could have listed a 15 to 30 day vacancy gap for turnover and repairs.Chicago is FOR SURE A CHALLENGING CITY TO BE A PROPERTY MANAGER, but likely even more than other industries, you get what you pay for with a property manager. 

It sounds like most of your issues were insurance-related, which indicates this is a risky market based on natural disasters or something.

I suspect they drew you a flow cart and then your conversations went something like this: I need to transfer my properties to an LLC for anonymity.They are told they are not anonymous & that is not asset protectionBut I need it anyway for tax savings.They are told there’s no meaningful tax advantages  But I can get non recourse debt because the LLC is the borrower.They are told they still have to personally guarantee the loanNo, I can get non recourse debt I read all about it.They are told yes, while that is true, the leverage is customarily low, applies to much larger CRE transactions and there are still carve outs.

We have stared the project about a month ago, completely new interior including adding new HVAC all new electrical, flooring, cabinets, tops and so on along with new driveway exterior paint and some siding.My contractor is also an investor, so we were lucky there, good insight to share and also, he has lots of leads for renters.But he is NOT a good photographer LOL. here are some progress pictures .Also, I will like to share that we are closing on one more single-family property early next week and we have a duplex under contract._________________________________________________________________________________________________________________________________________10/12/2024.

I’ve been working on mastering ARV (after repair value), but I still feel like it's a skill I haven’t fully nailed yet.

Likely when you setup your multi member LLC it would've been required to file a partnership tax return.

Hello BP fam:I am in the Providence RI market with one deal under my belt. I currently house hack a 3 family, and is hungry for more. Are there any meet ups, or group of investors who currently have meetings or any or...

Two questions:1) For those familiar with the area and demand, who has utilized a short-term rental management company in the Bremerton, Silverdale area of Kitsap County and what has your experience been like? 

I feel like not a ton of people have done that yet so we shall see! 

Sounds like someone way overpaid at the HOA foreclosure auction, hence the surplus funds.