I'm seriously considering multi-family investments out of my home state and would very much like to hear your feedback based on your experiences.Perhaps you could share any methods or strategies you've found useful in lessening the hassle factor or for making the management and operations as smooth as can be expected.Thanks in advance and again, welcome!

who designed it?

That said, as I write this I have an electrician in my kitchen, moving circuits and switches mainly (it was a poor design), when he's gone I'll actually install the recessed light cans, then texture and paint.Remember, if you're paying a "tradesman" $50/hour (cheap in most parts of the country) you have to "earn" about $85 to net the $50!

you just have to factor in the competition - that's out there sucking up as many deals as possible - take a look around, you'll start to see all the activity of fellow investors in your area.have you considered joining your local rei club?

Many conventional loans will either not allow you to put a property under an LLC or will charge you points on your interest rate to do it.Your Return On Investment (ROI) or more accurately your Cash on Cash Return (CCR) is factored by first figuring your cash flow on the property.

. ($20k 5-year asset = $4k deduction per year, times 5 houses = $20k deduction a year for the first five years, separate from property depreciation altogether) This process will save me a couple thousand dollars at least, and will probably be the deciding factor in whether or not I can afford to purchase another investment property.More cash flow now is more important than paying taxes later, all real estate professionals know this.

This would be a short term investment averaging three years, then the resident will purchase the property.I have not factored closing costs into the questions below, simply, becuase they could be really radically different.

Here are the factors:(1) house probably not worth much more than the first note and possibly, part of the second (with interest, penalties, attorney's fees, etc.)(2) house is occupied, not by the owner, but by a "tenant" who has not paid rent for a year; but has put about $50,000 of improvements into the house (he originally had a contract for sale with the owners)(3) wife (house is co-owned with husband she is divorcing) has filed for reinstatement of bankruptcy (her first petition was dismissed) and we won't know until we get to the courthouse if the petition is reinstated(4) there is an IRS lien on the husband which has been filed on the houseFurther facts and questions: (1) will reinstatement of the wife's bankruptcy stop the foreclosure?

When I came on board a few weeks ago my background, internet marketing/website design and administration, lead me to thinking that introducing the concept through appropriate forums, to get the ball rolling, might be one way to go.

Remember landlord/tenant laws are state determined, so its important to not only know and understand YOUR state's laws, but use leases designed for it.