I recently discovered the Bigger Pockets Podcast after reading Brandon Turner’s “The Book on Rental Property Investing” and I’ve learned a ton!

The LLC will need a bank account and the financial institution setting up your account, in NC, will need to see SOS filings.

@Andrzej GajdaJust curious why people spends thousands and even tens of thousands on a training when you could get a masters degree from an accredited institution that will be 1000x more than you will ever learn from a guru.

It's been 30 days but better late than never.Any work around discovered?

However, I acutely discovered, via reviewing the PSA, the purchase price actually being $775,000.00.

That's why the buyers will be institutions, and the sellers will be a stressed out mom & pop or little REI warrior that is $100/mo cash flow positive!

The terms can be more flexible and negotiable since they are not bound by institutional lending criteria.

The are a fee grabbing institution.

Like others have mentioned, you will pay structurally more for a home warranty than self-insuring for the cost of repairs.This may be worth it if the value proposition was that you could be hands-off whenever a covered item breaks.In reality, it adds significant overhead because there is the claims process and you give up control of the repair timeline and quality as you have discovered.

They only get reversed when the bank attempts to cash it and discovers the account was closed or has insufficient funds.This is real easy.