Long term investors (30 years) target a neighborhood that they think they know will appreciate.

This is much easier than fighting the traffic around Taylor Blvd at Derby time.

Read the mortgage and make sure it doesn't require you to live there beyond your "target" timeframe or plan on a possibly higher rate refi that won't.

I'm not an expert at options on homes by any means,but I hate to see your question just sitting here unanswered.By "double closing" you mean that you exercise the optionand buy the house, but at the close you bring *your* buyerto the table and they actually buy.The easier route, it would seem to me, would be to sell theoption outright to the new buyer.

It is easier to ask you for help if we have a name.

Steve, I agree with Mblaff - I usually target $300 - $400 and I too pay a property mgmt company 6%.

As an LLC is a tax pass-through entity, you (the owner) will receive the same tax benefits as you would if you deducted these repair/improvement expenses on your personal taxes--but, if you use the LLC, it helps legitimize the LLC, is more defendable in an audit b/c it reflects a real business process instead of tax evasion, and frankly it makes it easier and faster during tax time.How might this help in reality?

:D Can you give me some more details as to what kinds of properties you want to target?

In my opinion it would be much easier and safer transaction to structure a one year lease option to buy with a sizable amount down from the tenant.Good luck!

For example, i have looked at town homes, 4plexs, single family homes, Modular homes, etc. when i look at each one of these, they all have there different qualities. but New Modular homes seem to feel like they might be an easier investment to get started with to get my feet wet. they are cheaper, and they look like they would make a higher profit in renting them out.I hope my question is clear, and thanks for your help