Just make sure that if you buy a condo that even though you get the "Master Insurance" that you also buy an individual HO-6 policy for your unit, and if you are worried up the liability coverage on it.

We view our time invested as part of the initial down payment (and property management as a continued investment in the maintenance of our initial capital investment).Purchase Price: $47,500Down Payment: $3,500Taxes: $775Insurance (Liability): $600Maintenance (significantly decreased after the initial capital investment) $1,000Mortgage: Seller will hold the note for 15 years at a 5.5% interest rateMonthly Mortgage Payments $375My two friends will put in $3791.66 and I will put in $3416.66 (I am a commercial sales agent.

It looks like 4 rentals, placed in service in this year, with an office lease liability, some incidental assets (utility trailer) and unrealistic expense numbers. $24 for expenses wouldn't cover a single service call.If this is a package sale of 4 rentals, then a "packet" containing valuations, pro-forma numbers with full list of assumptions, management and lease agreements, etc. would be a minimum.

For liability purposes, all of my properties will be owed by a corporation that I'll be setting up.

I go all electric with them, the savings vs. the liability of gas is never worth it in a home that small in my opinion.I've started using hotel style air conditioning/heat in wall units, they are very efficient for small spaces, economical.

Knowing the above info will allow you to figure out overall how much of an asset (or liability) this property is....If you are willing to share then I can run some basic numbers for you, and anyone in a similar position, to think about.

Especially when I just signed anything and everything to sell these damn liabilities, and ended up with not only irreparable credit, but $400K in judgments and collections accounts I signed when I sold them.

The bank wants a security on the property or asset in case anything goes wrong, and a C-corp provides you with more protection than they would care to allow (i.e. very little personal liability at stake).Banks are strange, and I just try to avoid them whenever possible.

Non producing rental property is a liability, and a giant headache.  

No reason for them to take on the liability for a one off deal..