Your marketing budget, financially and time wise, will determine what marketing strategies to pursue.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

I would 1031 exchange into another market as your caital use on your reserves will be minimal and you can try out a new market by doing this without too much effort or financial pain.

What should I be looking out for to make sure I am protecting myself in this position? 

I am in the stages of purchasing a property with a traditional loan, then transferring ownership to an LLC to protect my personal assets.  

(Charging Order Protection Entity) and you can research it on You Tube.

I would also call child protective services.

To protect my liabilities, should I put my rental property in LLC?

Interested in investing in real estate in the future in order to achieve financial independence.

Together, you can carefully consider the financial aspects by comparing the potential income from renting to the costs of selling, including any repairs needed to make it more marketable.You may qualify for a conventional loan with a down payment as low as 3% to buy a new one.