First I wanted to apologize for not getting a more recent report out to everyone; it has been one busy few months and I would not be honest in saying I had the extra creative energy to put a proper update to you.I have been in love with the Chicago area for many years despite the horrific winters.

For example, if you own the properties in your own name and someone falls at one of your properties, they can use you instead of just suing the LLC which offers the protection and separation from your personal assets.Keep in mind that the LLC must be formed and managed properly (we hire an attorney to do this for us) in order for the LLC to actually stand up in court.To provide additional protection, we also have an umbrella liability policy.

Some intentionally to make a quick buck at any cost and others because they have a lack of experience to do the transaction properly.

Proper planning your everyday function will help you,Good luck with whatever you choose!  

I have found a few forum threads where people who have bought TK rentals have found when the go to sell them that the house is not worth what they paid for it-http://bit.ly/1R68VZphttp://bit.ly/1MqwcWKI would like to avoid this if possible and wanted to get advice on how to properly determine the market value of the property.

We had delays with the contractor completing the work, unforeseen repairs required, a contractor scratching up the floor 2 days before the open house after they had already been refinished, and problems with the town & contractor over permits.One tip I would give investors, I would actually go down to the town with your contractor and make sure all the proper permits were pulled so you don't have any problems when you go to get your certificate of occupancy.

Even the smallest of imperfections will usually "telegraph" through the vinyl, and dirt can prevent the glue from adhering properly.  

As others have said, deals like this where you must really go over all the details with a fine tooth comb can often end up being the most profitable if properly assessed.  

To properly understand the risk involved, look at the loan-to-value (“LTV”) ratio of the loan - if the loan has a 60% LTV there is a lot more margin for error than an 85% LTV loan.

My rehab is in the home stretch so I finally feel like I have enough time to really explore bigger pockets properly.