In effect, your retirement plan pays for start-up costs by buying all the stock in a new corporation.

If you've found a niche that can generate these returns consistently in volume I think you have to ask yourself if there is a reason why other investors are not pursuing it.Some reasons that would keep me away: impossible to manage effectively, impossible to keep occupied, no consistent rental demand (or tiny rental market).

I'm curious as well what your plan is for your fire damaged property.

The advertised cash flow can be very difficult to monetize into your pocket due to all the tenant headaches, turnover, and property damage.

I while ago I read a post on BP about someone putting slanted drip pans under the sink so that if there is a leak water flows on the floor it is reported by a renter rather than pool and cause water damage especially in a second floor unit.

It had actually been tried before, but number of problems need to be solved to make it effective.

Options can be valued, but usually it's way too much brain damage for most investors to foolwith and on smaller properties 10% is the norm that will not create problems.

I had a girlfriend who was special needs (epileptic), she got her money on time every month, and had someone come in who cleaned and cooked every day, the house was always clean,(unlike any of my other renters), rent was always paid on time, no damage.

By the way, if there is no lease agreement, I'd get them set up on a month to month ASAP for other reasons.You obviously approved of the property condition (you bought it), so it does not appear that the dog is causing property damage.

Bill for a starter why do you think it is necessary to organize as a not for profit to operative effectively in this market?