If I was feeling more ambitious, it allowed me to stop working and focus 100% of my time on writing a book, or maybe getting healthy if I became too burnt out from the usual non-stop adrenaline and cortisol-fueled American corporate work schedule.

It is a trust/pass through entity in which a sponsor (think big real estate investment corporation) buys institutional property (apartments, self storage, commercial, medical office, etc) and then sells interest in the Trust/Property to investors.

Our corporate headquarters are in Pittsburgh and we've done it a ton over here.

Idea is to limit recourse, so if one property gets called, the lender (or other claimaint) recourse is just that property and not your portfolio.LLCs are easy to do once you go thru the first one and most states allow foreign corporations (ie you set up the LLC in WA and buy in OR). 

Corporate housing is interesting - usually higher rents, all inclusive (utilities usually included) and everything paid by a company for longer than normal rental terms. (1 I looked at in NM $1800/mo rent included everything - elec, gas, cable, internet - paid by a hospital for a doctor doing elective surgery for 15 to 18 months at a time plus laundry income.

Seller sent me a copy of the Purchase Sales Agreement (PSA) as well as the original lease agreement seller had with the tenant (corporate lease) and an extension they signed a couple of years ago.

That includes maintaining books and corporate minutes. 

Just like any corporate rental.   

That being said, a great resource for Illinois is The Judicial Sales Corporation, tjsc.com, which lists all the properties being foreclosed on in the next 90 days.

Hi all,(First BP post)I’m new to the scene of REI, but have been really doing my best to engulf myself in the knowledge, between BP forums, podcasts, YouTube’s etc, but one of the areas that I’d like to know more about is property management companies.As I’m starting out and looking into my first property, I’m not near the “nirvana” of property management and leaving my corporate job.