I will be following up, and briefly introducing my self.

Who is allowed to make these recommended Escrow repairs .... can I my self pay out of my own pocket for these repairs, and thus avoid having to use a 203K loan ?

The income on the 1099 is taxed an earned income so you'll pay federal and state income taxes as well as 15.3% towards self-employment tax.

Once you have a portfolio, THEN the cost and effort to maintain an LLC *may* be worth the effort.Be advised, it's $800/yr to keep an LLC in Calif AND the list of members must be filed annually.All the seminars taught the legal entity stuff (usually due to the vested interest in 'helping you') but IMO a good landlord insurance policy + an umbrella policy is sufficient for "well behaved owners".

You have a qualified opinion, the issues clearly in front of you, and you know your goals - - you have "a self-evident truth" right in front of you :smile: and best wishes.

The property its self has many pros and cons but I feel that the positives out weigh the negatives.  

However, I'm concerned that (1) homeowners will perceive me as a self-interested investor and (2) when I get them on the phone, they will only want to know my buying price, not allowing me to build a relationship.B.

Any advice is greatly appreciated.David,Here's what I do for my multi-family buyers:Yes it is hard to estimate for maintenance because of a lot of variablesBut I know its expense is less for more units, for things like 16+ unit buildings, onsite maintenance room for storage materials, onsite employees use less hours to do work ordersSome entities even volunteer their residents to pick up grounds, hence minimizing your maintenance costsIf hdsupply.com accepts your account they specialize in multi-family buildings and you don't have to use man power for delivery or pickups And yes, you can do analysis paralysis but it might help you the bank's formula DCRThe 1031 buyers look at expenses differently Yes there's a number per door, e.g. if the units have been neglected you will spend at least one month's rent in turn ready unit expense    An organized well lubricated team should turn ready units in 2-3 daysPay close attention to the human factor, i.e. low self-esteem employees who will take longer to turn ready units or do work orders with poorly workmanship, theft, etc In capital expenses, concentrate in a few and more expensive to start with, AC, plumbing, electrical

This is a much needed piece and will make BP much easier to use for those just beginning their BP experience, their research and their "self-funded education".Originally posted by @Linval T.: Welcome to the vibrant BP community.

What he probably meant is the average borrower usually sells the home or refinances within 5-7 years after a purchase of a home so paying points often times is not the best way to go unless if you can really know beyond a reasonable doubt that you'll be in that property longer than the "break even point," in terms of months/years.escrow fee is dependent on local area companys they usually consist of a flat 250-500 fee Plus $1.xx per every $1000 sales price or other type of variable fee calculation model.FHA streamline refinances "can," be offered with no points and often times with sufficient lender credit to pay all closing costs as well but your loan is a 20% down conventional no ?