I'm targeting properties in the $100K - $200K price range, with the intention of using traditional mortgages for financing.From the outset, I do not plan to set up an LLC; first, because I don't think most banks will lend to an LLC, and secondly because I don't think such relatively small investments will arouse the attention of ambulance-chaser lawyers. 

Including value add properties may expand your purchase pool and obtain ROI that is extremely hard to obtain via cash flow only.By the way: Love the Black Hills especially Crazy Horse (my favorite man made item, I have visited it 5 times over the years starting in 1995).Good luck

Hey Nic,Did you setup a traditional LLC or a series LLC in order to separate each property?

@Tara Faulks I see you also have a line item for $79 monthly fee for permits - was this provided by the PMs you spoke with? 

I look at every single item in the pro forma and imagine that it is complete BS, and see if I can challenge it.

We've come up with some alternative solutions like they clean out all their personal items from the basement and garage in a short time period as well as stop smoking inside (heavy heavy smokers).

We even have a section of maybe 10 items that are the most important items to know about their lease it really simple terms and they don't read it.

During the first 45 days make sure the paid items or items that have been paid down have reflected on all 3 credit bureaus before applying for loans.I hope this helps and have a good one. 

I am a new member and have been reading through materials, I going to be in a position to purchase a couple of rural properties in Michigan.This has me wondering to what my best options may be for buy and hold rental properties, go traditional financing methods, or look at starting right away with BRRRR?

We had inspections done and the few items that came up were handled.