Some may argue it’s not necessary at the start, but it becomes costlier to transfer a property held in your name to an LLC at a later time and this is good forward thinking business planning.Don’t worry about forming an LLC until you execute an agreement to purchase real estate.

Judicious use of leverage (debt) when the property will still cash flow positive after debt service; when there’s enough equity left in the property to refinance if advantageous, and when sufficient reserves are held to cover vacancies, recessions, and unexpected repairs5.

Now, if that property was held in an IRA that income would trigger UBIT because the debt related to the purchase created income (UDFI).

The tax deed is not a warranted deed, but conveys the interest held by the county in the property to bidder.

It's on a nice big lot and includes a large metal garage/shed. 

I certainly can’t be held to terms and conditions I was never made aware of.

I'm wondering if there's something I'm missing here.I'm trying to make sense of it- I guess if you held on to something like a brand new duplex, over time, especially after you move out after a year or so, you'd eventually cash flow positively due to increasing rents..

This doesn't mean you get to keep his deposit however you can deduct money from the deposit for time the property was held. 

At one time back in 2004 or 2005 we held about 50 notes, meaning we were receiving and depositing 50 checks per month, sending out 50 invoices by U.S.

For ROI, don't forget to factor in how much the house has appreciated while you've held onto it and mortgage paydown-ie don't just look at rental income vs your initial down payment.