If you also do the management piece, they can come after you if the LLC does not have enough assets or insurance to cover the damages from the injury caused by your negligence to do the repairs.

Putting the time and effort in to locating a seller/property and having no where to go with it doesn't make much sense.The reason I'm asking is because there is a water-front property in my town where the seller is trying to sell it on their own.

This will be outside a city where municipal sewer and water are not available and will be the responsibility of the lot buyer.

Also, I hear he can walk on water and saves babies and puppies from burning buildings on a daily basis.

IE, paved roads, sewer, water, etc.

After the tenants have left, I do whatever is needed to clean/repair/turn the property and then subtract any damages and cleaning from their deposit based on the move in/move out form.

I will not be bringing in sewer or water so only the two utilities.

I think you will also have many more repairs than are found initially. 8 years is a long time for a property to be vacant without major damage being done to the property.

This time I scared the deadbeats into deediing it back, saving me $1200 or so in attorney fees, and got a $2000 insurance settlement check from them for some damage caused by "vandals"-probably their tenants as these guys were, unknown to me, trying to be landlords without having a clue what they were doing.Anyway I've been working on it for 3 weeks, on thier utilities and insurance and now have a contract for $100K.

I have played many sports and many for years, football, baseball, basketball, soccer, golf, swimming and water polo.