Once you step into either one, you've taken the big plunge into liability.That doesn't make them bad, but again...IMHO...not for the newbie.

I'm currently planning my next step which I was hoping everyone could help me with.

Took the first step you advised and contacted someone on CL.

My first step would be to do a lien search to see how much equity exists.

Would that be a good first step?

Anyway, here's what the fact sheet says:The final rule approved today makes changes to Rule 506 to permit issuers to use general solicitation and general advertising to offer their securities provided that: The issuer takes reasonable steps to verify that the investors are accredited investors.and then later in the Fact Sheet:The determination of the reasonableness of the steps taken to verify an accredited investor is an objective assessment by an issuer.

Welcome to BP Robert Perea-Martinez, thanks for your service as well.Deciding to get engaged in the forum discussions is a step in the right direction.

Each of them focused on different market(s), varying neighborhood demographics, and with slightly different investment philosophies.Without getting into a lengthy step-by-step explanation, my suggestion to help point you in the right direction is to focus on markets with a stable housing market, and a growing (or stable) local economy.Once you've identified the best market for you and your investment goals, then select neighborhood and property combinations that make the most sense.

I get a call from a tenant, thinks there is termite damage because her brother fell through the back step.

And in case you haven't seen it, this post might help ya out: How to Buy a Small MultiFamily Property: A Step by Step Case StudySeeya around!