I opted to go through a turnkey provider as I was willing to sacrifice a bit in the way of profits if it meant a greater chance at getting my first deal under my belt.After the mortgage, management fee, insurance, taxes, and maintenance reserves, cash flow is about $180/month, which equates to about a 10% annual cash-on-cash return.Thanks to everyone who has contributed here over the years as I'm one of the many beneficiaries of this fine community!

So my goal right now is to learn a little more, make some connections, and develop my plan over the next 2 weeks and then execute my plan by locating and finding my first property and just get started.I am looking forward to connecting, learning, and contributing to this great group and profession.Thanks,Jeff

Therefore, if it were me, I would draw up a new lease and require every person sign the lease and contribute to the security deposit.

Thank you all for your contribution to make this a helpful websites for newbies like me who is eager to learn about Real estate investing.I lived in Memphis a few years when I was little, but don't know much about the city since I was too young back then.

So good school system, good shopping, etc all contribute to keeping your tenants longer.

I have read from McElroy's book that the investors receive ownership interest in the LLC according to their equity contribution.

Hopefully I'll meet some of the great people that contribute to this board someday as this forum is such a great tool to have.Brenden

I understand nobody here is giving me qualified legal advice, because I haven't asked anyone here to give me qualified legal advice.I'm asking whether anyone (like someone who owns small MF homes) has had any experience with this sort of thing, if anyone (like a lender, real estate agent, or experienced investor) is familiar with FHA regulations, if anyone (again, like a lender, real estate agent, or experienced investor) knows about some type of bank loan or opportunity I may not be considering.I'm asking people here what THEY can contribute.

I look forward to learning and contributing to the BP community.

When I have all my answers and processes compiled, I intent to share them with all the new wholesalers to contribute back.Cheers,Brandon