Can carve out responsibility and control of profit loss and agreement for common expenses within existing LLC.

All in cash investment was $12,900 and you're profiting $3786 before you factor in regular maintenance and repairs into the deal annually.

So, I am up for the challenge and in the process make myself and investors a nice profit.

As I have a full time job I'm looking to become a silent partner in a larger investment.

Credit union for small multifamily, then large bank business account as I scale larger?

Again, I have a larger (3 bedroom apartment) in a nicer part of town, with more amenities (e.g., fitness center, pool, hot tub) for $1050.

As having acquired 94 deals (and not all of them are profitable), I would know :-)So, I am writing this forum post to share with you my top 5 ways I find good deals even in today's HOT real estate market.

A larger and nicer personal residence costs you more money, so it works against building wealth.There are people who live in the back of a van in a parking lot.

Do a couple of deals with normal timing, pay the lender back, then share the bank owned scenario with them, they might want to partner with you.And in the 17 years of doing business, I have never had a private lender ask for a credit report, an appraisal or an inspection, they did, however, want to see before and after photos and profit and loss sheets of deals I have done (a few of them anyway) Once you build up a reputation of doing deals and using private money, you can get funding fairly easily for regular closings and build a track record with those lenders and they might fund instantly at the courthouse steps

The other 2 STRs have been converted back into long term rentals and although the gross revenue is less, the net profit is pretty darn close.