Sure you can sell the home when you retire but will the proceeds of the sale after taxes and broker fees really net you a profit after a down payment and decades of property taxes, debt service, mortgage interest that you can no longer deduct from your federal taxes, repairs and homeowners insurance?

I am considering finishing the attic into a 3rd bedroom and possibly making some upgrades to the kitchen.I already know I need landlord insurance.

In terms of protection a property under an LLC with S corp option would most likely give you both the best legal protection as well a give you the best tax advantages, coupled with strong property insurance and possibly umbrella insurance.

Hello BP, looking for some perspective/opinion on which route to take with $50K cash with the goal of long term buy and hold: Pay cash for a BRRR - $50K Purchase (finance) two $100K properties - $50K down payment (in total)For simplicity, assume my numbers/deal are spot on and the cash flow in both scenarios is the same.Pros of 1 BRR – Left out the R for repeat...as I would hold on to the property - No loan, one property (with same cash flow) – slightly less maintenance as only one set of mechanicalsPros of 2 financed properties – Leverage, mortgage paydown by tenant, more potential appreciation (2 vs 1 property)Cons of 1 BRRR – less rehabbed (just rent ready) vs 2 financed TURNKEY propertiesCons of 2 financed properties – lower cash flow per door, paying additional (taxes, insurance)thoughts?  

After P&I, taxes, insurance and $100 into bank account we split $200 cashflow.

Reasonable on Price and paid on installments or milestones.Licensed, Liability and Workman's Comp Insured for him and any Sub-Contractors used to complete Rehab.Any information or leads would be greatly appreciated in order to save time and money for our Fix/Flips.

Here is what I am looking at:Purchase Price: 150-185K Duplex with Garage.Area Rent: 1000-1200 per unitDownpayment/Closing Costs: 8-9KMortgage Payment(Includes taxes, P&I, home insurance and PMI): 900-1100 per monthInitial Repairs: 2kLeft over Cash: 7KMy thought is to purchase as an "Owner Occupied" (that's how I would get the 5% down). 

I highly recommend  you look into that.Something you might want to look into before you get started1) Soak up as much info as you can so that you know what you're doing.2) Pick a niche and try not to get distracted by various means of investing.3) Build your team before hand - insurance agent, local community banks, lawyer, realtor, property manager and handymen.4) Run numbers on a LOT of properties just to get familiar with the process.5) Research on neighborhoods that work out for you.6) Network.

Today, they are not.plus you never know if the bank is going after their PMI insurance ???  

I don't have any earth shattering secrets you can't find in books, but I can share actual experiences, timelines, prices, rehab costs, insurance costs, rental roles, property management and tips for how I've created a 19 unit portfolio worth almost $1M and generating over $100k annually inside my IRA, starting from a relatively small initial investment.