Your appetite for risk may also determine what strategies you explore.

That means I post a pay or quit on the 5th (here in CO) and start eviction if they don't pay.Do keep in mind that tenant damage in excess of security deposit is inevitable.  

I think the best play is to pass down the expenses to the tenant to reduce the expenses which are ridiculous.That being said you are probably right about raising rents simultaneously as being excessive.

You could buyout using either a cash-out refinance down the road or by directing excess cash flow from your existing and new facilities first to the investors.

I’m sure everyone can imagine just how feels when a trainer tells you that you don’t need to know the details after he just told you to buy a house using your credit card, not a warm and fuzzy feeling.I can honestly say that the three day seminar did help me understand that there are many options in real estate that I didn’t know about and still don’t know enough about.But it very much whet my appetite to learn as much as I can about real estate investing and more importantly get started actually investing.

Joel - I had a bit of a leg up from two things my Mother gave to me: one was an insatiable appetite for self-education so from an early age I was listening to personal development type stuff in car rides, etc.

All other flooring will expand and contract excessively under those conditions.

I would imagine there is a lot of appetite from local banks in LA right now (and most other large cities).If you go above 3MM or to the capital markets (CMBS, Life, Fannie/Freddie) you would speak to a highly reputable broker that deals with these types of loans.

People to weed out early:- Those who complain excessively about their current land-lord or rental.- Those with pit-bulls.- Those whose income is not at least 3X the rent.- Those who are just now moving to your area and are not well established.

As long as the Deeds were recorded before the lawsuit and or Judgement.SO, isolate RISK, balance equity to $zero$,I have been advised to make sure you fund the LLC properly in the beginning, NEVER co mingle personal expenses, and regularly sweep excess cash out ( ie. through an employment agreement or other DOCUMENTED business agreement like a lease back or whatever).Also remember that you are liable personally for anything you personally do, LLC business or not.