How especially painful for the rehabber if the house went through a costly rehab, is in fact gorgeous, and the photos just don’t show that.

A little pain now for a long term of freedom to get RE loans and investing purposes.

Be sure to really familiarize yourself with the area, as it changes greatly block by block.I'm also curious as to whether the student housing market here is tightening, as a number of brand new student apartments have gone up, equipped with lots of amenities.

I set up an LLC a few years ago to hold my rentals and it was too much of a pain in the butt to be worth it.Check with your state about taxes on entities.

There are several other properties that are in need of rehab on the block as well, and some rehabs have already started.

For one, I've seen lots of houses that would be great rentals but would be tough to ever sell for one reason or another-one of a handful of houses on a block of multi's, strange layouts, ugly exterior etc.

We ran our numbers and decided to jump in.When I realized how the previous owner had set things up, I quickly realized that, even though my first one was not such a pain, things could be WAAAAY better than I thought!

I'm closing on a single 3 blocks away in better shape albeit 1 less bedroom for $14K.My point is that just because you can find cheap properties in the city relative to other areas, don't assume it's going to be a good deal.

@Tim Herndon Welcome, I have a need for houses in Jax, with buyers looking for 300 homes in Jax, concrete block, brick, stucco, alum siding, just NO WOOD, let me know what you have and where you have them, up to 25,000 in price.Jack

Im just trying to tap into every ones experience to see how I can tweek my process to lose as little in the way of qualified tenants while blocking out the bad ones automatically.