After leaving the property and renting it out, I'm gonna hire a property management company which will have a maintenance account to take care of such issues. 

Hello! As we all know, REI is a very powerful tool to building LONG TERM WEALTH. Some people have different goals in mind when going into it. And I am curious to know yours. If YOU ARE buying an investment property, d...

Perhaps later we will join Open Spaces when we don't require as much hands-on, in-person oversight.

She said it would require upgrading to the highest subscription level of QB, which is $200 each - we've got two QB subscriptions for two LLCS.

The lake's beautiful setting attracts tourists, making it a lucrative spot for STRs, especially during peak tourist seasons.STR operators in Oklahoma generally need to adhere to zoning laws, licensing requirements, and may be subject to taxes such as sales and lodging taxes.

Being on title protects the seller from the buyer defaulting - it seems this is an alternative to "officially" putting them in a 2nd position)-- Title company sends seller the $350K they require-- Title company sends buyer back $650K (which they can use to pay off their transactional lender if they used one)So now the seller is happy bc they got the $350K they needed, the buyer is happy bc they acquired a property for zero dollars out-of-pocket, and from what I understand the 1st position lender is happy bc due the LLC arrangement the seller finance component is not technically considered a second lien on the property.

Some people want cash-flow from day 1, some people want to invest long term, some medium term... all different strategies that would require a custom tailored approach. 

Recently, many of those seller carried mortgages are coming due and clients have reached out for either advice or recommendations for their refinance so I wanted to share a public synopsis of what's generally required by lenders and what to be prepared for.

Assuming you are managing the property well and taking care of maintenance issues, there really is no benefit to either you or your resident from the inspection.  

Depending on the cash required, I'd probably look for a partner to fund the downpayment and renos, and do an equity split.