Minimize utility Expenses: ( at least separate electric , Water if possible).Separate Heat etc. is desirable.

I was also told in a recent training (Justin Wilmot's 10hr wholesaler) that a double close allows an individual to take more control of a property closing in a given situation, minimizing variables of risk.In most cases, i could possibly do this, given that it involves getting a temporary equity loan to purchase to home then resell it to the buyer.I'll have to investigate this option a bit further.

I was actually JUST about to direct message you cause I figured you'd know someone.FYI for everyone on this thread, I'm leaving for a trip this morning and my BP access will be very spotty so my future responses will be very delayed.

Following...I'm New to this but I was just figuring I would get a minimal policy after purchasing.

But I have the $7500 for repairs and I know how to get it sold with no commissions and minimal closing costs.IMO there is no deal for a landlord buyer and no deal for someone who can't work on thin margins.

Sorry for the delay I was pretty busy over the holiday weekend but have been anxious to get back to your feedback.

@Billy Bob I think the biggest thing to minimize your concerns is to track each of the payments you made either with cancelled checks or copies of your checks from your online banking site.

(I manage my own as there is not much to manage in a condo, and I purchase mostly in cash to keep costs down) Keep in mind that any repairs, vacancy, or special assessments will put you in the red if you do not minimize your fixed costs.

Using credit cards *can* work and experienced investors do it in a pinch but they have the experience to know the risks and minimize them.

Doing your own PM work s overrated and buying yourself a job unless in an area where tenant demand and quality is so strong it requires minimal effort to manage the asset.That is usually the rarity and not the norm.If you were just holding this property for equity build up and tax write off and were to stay with your profession until retirement then this property might work if in a great area.