I've purchased two properties personally utilizing seller financing and represented at least a handful of buyers acquire properties with private mortgages over the past five years including friends and family members.

Tennessee doesn’t have personal income tax but if we create an LLC we would have to pay state income tax.

Be thankful they are taking this step on their own to ensure they don't get behind and stick you with unpaid rent.I'm sure how much they may be approved for varies on a case-by-case basis, but I have tenants who have paid the full rent for multiple months through COVID rental assistance.Your role is limited, and in my personal experience requires just a bit of information on the balance due and a signature.

While I am a licensed agent but I do not focus on MLS deals.I've been personally investing in Detroit since 2019 and have 12-doors there now.

Not interested personally.. but it is an option to trying to wholesale and failing miserably at that.

Ultimately, the best market for investing under $250k will depend on factors like your risk tolerance, investment goals, and personal preferences.

But I would like to use my chance to comment on this to emphasize how much of this situation really reflects on how you've managed the landlord-tenant relationship to date.In a high-regulation area-of-operation like California, cordial landlord-tenant relationships will get you past a lot of garbage like this.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

This formalizes the relationship and segregates the rental income from my personal income.Banking and Accounting:Separate Accounts: Open a separate bank account for the LLC.

You have to get the person face to face.Creative deals are negotiated.