It's great to hear about you starting your real estate journey.

I started by placing my 1st rental property into an LLC (for this example, *JOHN SMITH PROPERTY INVESTMENT, LLC*).

I used money from my business savings earmarked for starting a group home for my mentally ill nephew, who has been struggling since his mother's passing.

Have you already started working with lenders to figure out which loan product might be best and what price point that might put you at based on that?

Talking with an agent in a different state the other day and they started talking about this or that issue, that I never really heard about. 

WOW,thanks for the info about the 6 months eviction period allowed for a purchase of foreclosed property in the state of Michigan. i am just getting started and this is a real BOMBSHELL to hear.

Simply put, there are a lot more co-hosts/managers like myself and yourself who got started self-managing their own properties around covid and are now afraid or unwilling to buy new properties at current prices/rates, but want to use their knowledge/experience to keep increasing income in the space. 

I get more cash upfront, cashflow after my cash-out refi, and I net more on the sale because no realtors involved.Young family that the husband started a business 1yr ago so couldn't qualify for a mortgage, but they wanted to buy a home. 

He will tell you, INTER ALIA, that you want inspection, financing, attorney review, title review, insurance, environmental, and survey review.Second, get a GOOD home inspector lined up.Third, get your banker lined up.THEN you can start looking.Also, keep in mind that backing out of a contract must relate to the contingency being used, and can only be triggered AFTER a good faith effort comply with/fulfill the contingency.

This sets clear expectations from the start and helps avoid potential conflicts later.