I want to create something that I can pass along to my kids and create generational wealth. 

In terms of taking on more liability, it boils down to what insurance will be less expensive and looking at what we are having to pay through the HOA (for insuring the aggregate of all units), it will likely be cheaper for owners to purchase individual HO3 policies to cover their units (as townhouses) as the carriers would not be taking on the risk of the entire $100M+ in aggregate replacement value, and the owners can take out policies for individual units with a whole range of carriers vs the HOA trying to get coverage through the secondary market.  

But, for the size of BP forum individuals you will be under Personal Guarantee any ways.  

Most of us would not.... but this individual is fine with it all.... it is a completely different set of ethics (or absecence thereof) in which they operate by, it would be a fallacy think that your verbal agreement when you met with him will be honored, have any of these above questions been honored so far?... 

The Garret Sutton Books are GREAT and I have used his service to create LLCs.

I would greatly appreciate it.Thanks,Joel Barjon I would find someone on upwork to create a simple wordpress website. 

Maintenance and Repairs: Create a plan for regular maintenance and address any repairs promptly.

Since there is not lien/loan, then you can create any type of loan you want if the buyer agrees.It still kinda sounds like the buyer may not be fully aware of the nuances of the deal.

They took a week, ordered almost everything online and created a very 'beachy' home.

I hope Mario can mitigage his losses by selling the property quickly to stop the bleeding, or re-tenant and refinance to less expensive debt but this serves as a case study on the perils of investing in lower tier neighborhoods.The amount of people on the internet and social media selling the false narrative of how easy it is to create wealth through investing in real estate, specifically these lower tier neighborhoods is upsetting.