I am purchasing a 4plex tomorrow and will be moving into one of the units.

We purchased the condo for 92,000 and it has 69,000 left on it.

Borrowers with higher capital reserves or equity in other properties could explore an all cash purchase.

Also, I know that by law real estate agents have to disclose if things on a property are unpermitted to allow the potential buyers a chance to back out of the purchase if it's too costly & the real estate agent who sold my friend this property didn't say anything about any of the 3 out buildings that are on the property.

The market rent puts all three together at approximately $2900 monthly.Costs behind the acquisition:Property taxes: $5000 yearlyInsurance estimate for all three: $3,300 yearlyC-class properties (not best location, their condition is about average - older properties)Purchase price: $250,000k$15k down and $235k seller financed at 6% interest for 30 years. 5-year PPP.

I am in the process of purchasing my first STR.

I have a 3rd LLC (non retirement) created in NV, working on buying RE in Detroit, MI. once the purchase has consummated, I file the foreign LLC filing with MI state, do i need to file for FINCEN too??

Why do you think purchase contracts are so long and have such small print?

The property I’m purchasing currently has a fence on 3 sides, but no gate(s).

BUT Your realtor should be a savant at non-conforming spaces- if you look to purchase in Chicago.