it's really no different than a house or duplex,  just that it involves extra items.  

This site and community are worth their weights in gold.Since joining BP I can attest to the fact that my REI knowledge and skills have increased tremendously, coupled with the fact that I am being interactive with like minded individuals who are focused and excited about the success of others.BP and its community are here to stay and will continue to be a model for others to emulate.It clearly shows that persistence, hard work and dedication can certainly bear fruit in the building and expansion of a purpose driven platform without spam and other distractions.320,000 members and counting are a testament to the demand for an active and serious community driven REI site.Great job @Joshua Dorkin, @Brandon Turner, as well as the rest of the supporting team and of course the BP community!

Hi - I have gotten fairly comfortable with the basic Investor MAO formula of 70% of ARV-repairs.However, I know there is another model of acquiring investment grade properties which is to take over the sellers mortgage.  

I'm curious, how did you decide that an LLC was right for your business model and did you use a local attorney and CPA that you would recommend?

There are items missing and damages to replace the front door, amongst other things like blood in the hardwood floors, etc. - should I file a claim?

If you go from SFR to apartments, you won't think to check insulation and firewalls as a due diligence item.

I know if he takes me to court I am covered as the unopened certified letter contains a check for refund and a itemized list of deductions.

Also, spot any big ticket items (HVAC, appliances, cabinets, bathroom stuff, etc) that may need replacing or repairing. 

It gives you the opportunity to better plan and manage your ongoing capital expense line items and make better decisions.And just for a third thought here, would you rather have a report on a property from someone whose client base is usually word of mouth from other sellers or listing agents, "Oh this guy is great, he helps me close deals."

NOw with higher end assets or stronger SFR areas  Like were you live.. this appreciation scale may work.. but in most low end areas ( were you can buy sub 50k homes) there just is no appreciation and your model is just wishful thinking.