Also, I think it's good practice to not go for the absolute max the bank is willing to lend which will help you to not be over leveraged.

It is best practice to incorporate repairs into your underwriting.4.

Make sure you analyze the numbers well by practicing on example properties in your market.

Daily deal analysis practice #6Purchase price: 295k (25k above list)Cash needed: 67k20% downBuy and hold sfh5% Capex7% Vacancy 5% Maintenance 10% Property Management CoCr: 7.94% (12.19% if self managed)Cash flow: $443 ($680 if self managed)I would probably move forward with this one.

Meredith:I'm only licensed to practice law in your state of Minnesota, so keep that piece in mind. 

It sounds good in practice to keep exchanging to larger properties, but at some point you get old and tired.

In practice as a CPA, we’ve had 2 clients end up in court disputes because of lousy/online OP agreements.

Fixing for a flip and a rental are different and it's best to go to the people in your area to see the best practices and to network with wholesalers you can find deals from.

Going through and checking the other properties on the market manually is a great practice every so often. 

You are not required to get an EIN as a sole proprietor, but it is best practice.