Attorneys and accountants may tend to recommend a new LLC for each property as a way of minimizing risk but it also increases their fees. 8)

The plan is to do minimal repairs as a tenant already lives there and flip the house by the 6 mo deadline.Does this sound like a good deal?

A three year payback on a job that ensures only minimal maintenance or repairs for ten years has VALUE.

I would say over the long term, on average, you will talk to 10-12 people in order to actually show to 4 or 5 prospects, and get 1-2 good quality applications; 7-10 days would be an average vacancy period, assuming minimal change of occupancy maintenance.It really is dependent on your local market, and the specific unit, as I have had MANY same day COO, and MANY six weeks or more, not counting actual repair time.

Your liability for changing out the 2 prong to 3 prong plugs would be minimal because the homeowner will be well aware of it through an inspection and/or a seller's disclosure, and I've never seen anyone break a deal over it.Is it better to have grounded plugs?

The best way to keep deals clean and minimize your liability is to not do deals in your name.

They minimize losses through management (self-management or an external management).

If a person does not have enough cash, is it better to put down the largest down payment possible to minimize monthly mortgage?

My suggestion as always is minimal risk on intial investments.p.s.

As I didn't have a clue, Stan's band of motley maniacs got all the way through the job, I paid the entire amount, dh blew a gasket when he saw the room, everything had to be redone-- we lost a month's rent due to delays and $1000 to Stan due to my stupidity.