But I just checked the statutes to make sure, the proper is now - because they are in a 12 months lease - the 5-day notice for material violation of the statute (plus lease, I guess) with the right to cure.

This process can be avoided with proper estate planning.

My take on the lessons the folks walk away with from both sources, IMO, seem to point to a lack of proper understanding of the asset class in general.

As demand increases and the economy improves, so will real estate prices.My research indicates that if done properly, the yields will be between 15 - 20%.

As demand increases and the economy improves, so will real estate prices.My research indicates that if done properly, the yields will be between 15 - 20%.

If there wasn't a list of damages, then I would assume everything was in proper working order, no major issues at the time he moved in.

Sure, you might be working on building a relationship, which is very important, but you should expand your options by working with others as well.

After reading over the bigger pockets forums it has become apparent how important it is to get the contractors plan of action and budget written in a contract, so we will be sure and get that taken care of properly.

Partners should be able to motivate each other and push each other as the partnership expands and discuss issues openly when they come up.

John Ferrara, while it may sound (and even be) complex, your accountant has suggested this for a reason: it will allow him to properly allocate income and expenses in order to prepare your returns for the various entities.