But I understand from folks who do use long-term leases that the best practice is to have a "break lease" clause that clearly outlines the terms in the event the tenant or the landlord wants to break the lease.

I will be occupying ~1800sq ft for my own physician practice.

Just Hubzu's selling practice.

Thanks Manuel Acuna, Danny Day and Bryan K for the practical tips.Bryan K, how do I pay them for giving me comps?

If so, shouldn't the state stop this practice?

A lot of things to think about.For the record "I am not a practicing tax professional"

I will break it out tonight and starting putting this in to practice for myself.

So writing a check from your personal checking account to the LLC account and writing "capital contribution" in the description area on the check is not a safe practice?

Then go to as many REO properties as you can and practice your skill set.Here is some more info that should help you: Break up the home into sections - Kitchen, baths, flooring, paint, stucco, landscaping, plumbing (including fixtures), electrical (including fixtures), HVAC, interior doors, door casings/baseboards, windows/sliders/front door, roof, foundation, misc., and garage.Once you know what the common costs are for each area for a specific size home, you can see how easy it will become to walk in and walk out 15 minutes later with a rehab figure in your head.

It is helpful to get to the point you have daily and weekly activities that help you eventually achieve the major goals.I actually do more of this with my CPA practice than I do with my real estate investments.