Although we made a little (~$5,500), it was pure stress and we learned never to compromise on certain issues.

This is something I plan to do myself when I start renting, plus including an overlay showing from which angle each listing photo was taken.Also one inside one of the kitchen cabinets to help illustrate what size the furnace filter is, what type of battery the garage door open, thermostat, and whatever else takes, where the water shut off valves are, etc.

In pure accounting practice, ONE journal entry is used for the transaction (call it move-out) regardless of how many line items are required (say damages, past-due & deposit refunds). 

On a purely pre-tax basis my monthly payments to own would be about $5,000 (putting down 20%).

The Final Cost:Purchase $206,000Holding $7000 (Cost over and above our previous rent through August 1 when I rented the basement, includes 3 months when it was vacant)Remodeling $45,000 (only about 10k was contracted work, the rest is pure materials)Hours of my life - Maybe 2000?

Another option i would love to figure out how to export correctly is Google Maps Timeline, its extremely accurate.. i was comparing the data to my week of trying out MileIQ and it said i drove 22.6miles less in MileIQ for the week letting it log all my trips automatic compared to google timeline and google timeline is already running in the background if you have google maps activated with your gps setting turned on.. so it would be one less app to worry about draining battery on my phone.. gonna have to look into this more and see how hard it is to export the timeline to an actual spreadsheet...

I have got the bid on the property with the repairs required, but wanted to check in this forums on how to select the contractor based on the bids, Is it purely based on Price , or ReferralsThis would be the first time i would be working with them @Kyle Gray Thank you for the extensive reply , how do i get involved in the selection of items as the contractor is going to do the selection for us on whats required based on the bid submitted, Please let me know how i can get involved in the selectionThank you @J Scott@James Wise  i will check with some GCsThank you all 

Some are focused purely on networking, some on education and some on selling product or services.

Our buy and hold strategy is purely for income supplementation and to leverage into additional buy and hold strategies.

Unless there are laws or regulations in Philly I'm unaware of but there are very few CRE who WON'T want or require you to close any kind of pure investment property in an LLC and usually we have a more difficult time finding a lender who allows a borrower to close in an investment property in their personal name- you should have no problem with this.Feel free to PM me to discuss if you like!