A personal guarantee does in fact put the liability on the personal balance sheet.

Appfolio typically requires you to have 50+ units to on-board last time I checked.

@Chase Cline Agree with the other folks here that one LLC per property is overkill and that a good insurance policy is the first line of defense.Each LLC will require its own federal partnership return, which makes your accounting costs go up.

The difference is if you switched lenders and that lender has certain requirements that requires a renegotiation, then you might have a problem if the first lender doesn't.

REI requires $$$ and it's stated over and over again for a reason.

They require a lot of capitol as well as cooperation from the local city and/or county. 

Hi Bob,Make sure to have an investor friendly realtor so that you won't have issues afterwards.HOA are very tricky, as the boards change very often, they could be years that they don't do much and other years that they are suing residents if they are not maintaining the lawn.CC&R are the key to review in this case, those are public so available for you, and those are required to be provided by the seller every time.Don't go the route of do it anyways, that will have cause you consequences, I had a time that the HOA sued a property owner just for missing 6 months (the property owner was renting out the property and it didn't receive the invoice to pay the dues so she forgot).

More specifically, it requires (like all REI) a solid understanding of the operational expenses and local market.

GC is incompetent, has failed to get proper permits and has stalled on the balance of the work so seller just wants out.

She was the main contact in terms of any additional requirements from underwriting.