As soon as someone reserves, I send them a welcome email and ask them if they’re visiting for a special occasion or just for fun.

For financial reasons, you may choose to purchase in your personal name first then immediately transfer to the LLC, as opposed to buying in the name of the LLC, but either way you will want to be prepared with the LLC and operating agreement in place prior to any property purchases.

Third, I feel that the market will drop in the next couple of years and would like to be prepared to purchase rental properties when that happens.Again, it is a major decision in my life, I really don’t want to screw it up for my family.

You need to prepare for a tree hitting your roof while you are in Europe.

I would expect NC closing costs for a median priced property to run less than $2000 for the attorney fee, doc preparation fees, title search, title insurance, prorated property taxes and recording fees. 

When you reflect on this issue, investors can invest with a large number of Real Estate Investment Firms that set up “shell company” Special Purpose Entity [SPE] LLCs, that tell the investor their money is at full risk and they can lose all, and if they invest in that set up and the project fails the investor has absolutely no recourse, no coverage from any other company of the sponsor and has lost all.Doesn’t it make a lot more sense to go with a Realty Sponsor who puts the full faith and credit of their firm and its 13 year history behind the separate project with a corporate guarantee showing they believe in the project, showing that they back the project, and stand ready to guarantee the project with their monies in the event of a bad result?

On your homeowner financing loan alternatives is to show them the math on paper that shows them the extra profit and the possible tax liability spread out for several periods instead of showing they will and have to report it all in the next year end tax preparation and the savings that they might get. 

Buy and Hold deals don't really require any special talent and could eventually provide you with positive cash flow and give you an increase in value that could allow you to retire comfortably with all of your properties managed by a property management company doing the daily management and sending you some checks every month that you can survive on and, hopefully, doing whatever you want to do. 

So does this mean a savvy investor starts selling and hoarding cash in preparation to pounce on deals in the downturn?

I am now working with a lawyer to prepare the operating agreement and offering documents.