Purchase price: $225,000 Cash invested: $360,000 Sale price: $975,000 This was a purchase of a Methodist church and parsonage to office space.

We learned how much our buying power shrunk when I left my W2.- LLC's is great but it takes some seasoning for the entity to be able to purchase properties; talk to a lender again about this but we did this and they still needed to use our personal income to approve anything. 3 years later, we are now good to go.- CPA are SUPER valuable, especially with someone becoming a full time real estate professional and managing multiple properties.

If all goes to plan the sale / refinance should help me complete the next one, and line up nicely with the conclusion of my year of owner-occupancy in my current residence. 

.- ag a fellow investor who could benefit from leveraging the expertise of a Realtor in their investment ventures.Let's harness the power of collaboration and expertise to elevate our real estate investing strategies.

You can discuss KPIs, market strategies, sales tactics, and offers an accountability partner.

I contacted a title company to officially record the sale, but they are requiring 3 separate closings (and tons of extra fees) because there will be 3 liens/private mortgages recorded (one is the original mortgage that I want to reassign since the interest rate was very low; the second will be held by my son to my daughter for his portion of the equity in the home; and the third is the difference which will be between my daughter and my other LLC). 

They're going to require that you file a form with them every single year (it's Form 3840) and on this form you need to report back that you still own the new investment property, and that you haven't sold it and haven't received the income from the sale. 

This may be a dumb question - I've never sold a house before, would I need cash saved up if I sell it for the same or more than I bought it for, or does it all come from the proceeds of the sale?

If the properties rent was 1% of the sales price, you would have a good chance at cash flow. 

They will also be able to run comps for you, and have access recent sales data.