It's all about having solid property management- they will make you or break you.

Who builds unnecessary wasteful losses into a business plan.........lazy landlords.Pay now or pay more later.

Where there is a will there is a way, and we are going to make something of this but it feels like our first honest attempt at this was hit with a brick wall, and oh by the way that realtor said that he would be wasting every ones time if we made that offer of $500k

If the property had been mortgaged and payments on the mortgage stop, then expect the lender to get involved, in which case I would walk away rather than waste my time on it.

You have two options there, buy a pre-hung double door (solid - no glass) set and install or frame in the opening to a standard 32" or 26" wide door providing more wall space in the bedroom as well as the room outside the bedroom!

You can get the huge, tall cheap plastic panters and spray paint to minimize wasting lots of money if stolen. 

I had less than 3 rentals for over 5 years and covered under umbrella insurance, also because I was self managing them and doing have work myself which the LLC won’t really cover against (ie the LLC would be solid but if I personally repair something or do the lease/screening wrong as the property manager they can just sue me directly).

I'm hoping if I lay out the data, ya'll can tell me if I'm missing something or if this is solid! 

I am not rushing into it by any means, but I am wasting no time.

You want to make sure he pays his bills on time, just like a regular tenant, and that he won't trash the garage or store toxic waste there.