Hi everyone,This is my first post, and I'm in the midst of education, so bear with me here as I explain this complicated deal that lay before me if I choose to accept it.The deal is $260k for a 1600 sq ft house, and an old manufactured home on 8 acres that I'm currently living in and paying $600 rent, in the country outside of Austin, TX.

Remember, this is purely a tax status and has no bearing on how you regard yourself.Because you have a full-time W-2 job, you cannot qualify as a real estate professional unless you work 2,081 hours annual in your real estate business.

His income was significantly higher than the average bear and he's just a young guy with almost no expenses, leaving more to invest.

Bear in mind the metrics that banks will look at, including DSCR and LTV.I don't like the amount of leverage going into the deal.

As I've learned more about real estate this makes me really uncomfortable since I'm bearing all the liability if my tenants decide to sue me for any reason.What's the process to transfer an owned property to an LLC, if you no longer live in that state?

They cannot just switch them on, so they bear a cost in over-production.

My wife and I completed one in White Bear Lake.

Hard money loans are usually interest-only, so the length of term has no bearing on the monthly payments, only the interest rate itself. 

The lot is .4 acres, with good loam soil. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Distressed property in a small rural Missouri town surrounded by Loess Bluffs National Wildlife Refuge, Indian Cave State Park and B...