Get an actual interest rate from a bank - for investing, it'll probably be around 5.5% (depends on your credit).Don't purchase based solely on the 50% rule (I've said it several times, but once more won't hurt).

Hey there,I've been searching properties in the upstate of South Carolina for several weeks now (and I feel somewhat dumb for even posting this to begin with because I actually own a few rentals and I'm slightly terrified come tax time next year), and apparently I've been running my tax numbers all wrong and not accounting for the 6% non-owner occupant rate.Am I completely missing something or does this seem to kill virtually every deal out there??

And personally, after working with them on several building transactions I would endorse them based on my own experience.

We have a great market here and I have had several deals slip through my fingers.  

Several people mentioned that a quitclaim for the LLC was necessary, but there were others   Also, as most of the conversation surrounding the BRRR strategy seems to be around rentals I was unclear if it could be used for flips such as in this situation. 

I show the named owner has several judgments against them.One judgment is for $900 to an HOA.Then there are two more judgments from Fifth Third Mortgage:-One equals the upset amount on the Sheriff's sale. 

So if you wanted a big portfolio, you could use the 600k as down payments on several properties, buy maybe one or two in cash (in cheaper markets), and use financing to leverage your current capital into a much bigger investment.

I know you said you spend several hours on it every day to make it happen, sounding like a full time job.  

If you allow the buyer to pay you over several years, instead of the whole amount right away - then you can spread your tax over several years and maybe even reduce it in the process.

Looking for cash flowing investments in the single family category w/ a goal of financial freedom in 5 years.Joined BiggerPockets after listening to several of the podcasts.