We are local contractors in the area looking to get our feet wet in the real estate investing waters.

While I’ve been managing my own taxes since college, operating three different properties warrants the expertise of a CPA to ensure efficiency and compliance.

This house had 12” of water/ice in the basement... there’s a nice sump pump set up just sitting there with no power...

So at the end of the 5 years, you are just treading water with the lower price point home, while you made headway with the other one. 

If I buy a house for $400k, and the market drops and the house is now worth $300k, I am under water.

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

However, if for example, the company did not install or disconnect the washer and dryer correctly (such as leaving a valve on) while water is turned off prematurely, causing damage, what language do you put in the Lease to also hold other parties accountable such as ALE and appliance install company?   

Im not a lawyer, Id flip that house though. maybe get the priest to come throw some holy water on it. 

We had 21 units that took water that day, and it was a rough month.

I would say I have the experience, market knowledge and team to do this efficiently.