Purchase price: $225,000 Cash invested: $360,000 Sale price: $975,000 This was a purchase of a Methodist church and parsonage to office space.

Hello everyone, I've been buying and rehabbing properties for long term rentals for going on 8 years now, I enjoy buying properties, designing them, and seeing the end product. 

I contacted a title company to officially record the sale, but they are requiring 3 separate closings (and tons of extra fees) because there will be 3 liens/private mortgages recorded (one is the original mortgage that I want to reassign since the interest rate was very low; the second will be held by my son to my daughter for his portion of the equity in the home; and the third is the difference which will be between my daughter and my other LLC). 

You can discuss KPIs, market strategies, sales tactics, and offers an accountability partner.

This may be a dumb question - I've never sold a house before, would I need cash saved up if I sell it for the same or more than I bought it for, or does it all come from the proceeds of the sale?

If all goes to plan the sale / refinance should help me complete the next one, and line up nicely with the conclusion of my year of owner-occupancy in my current residence. 

I have seen many a client file with disastrous records yet they couldn't bring themselves to appropriately outsource the work to keep everything in order.With so many productivity apps availability, I think virtual vs local is largely dependent on your needs/comfort level.

If the properties rent was 1% of the sales price, you would have a good chance at cash flow. 

@Stephen Bruce, signed estoppel for each unit as part of due diligence under the sales contract.

They will also be able to run comps for you, and have access recent sales data.