Is there any potential pitfalls to avoid?

I was thinking to just pay cash for it, to avoid any loan hassles.

You avoid SAFE Act because it is a partnership and not seller finance.2.

In any case, I would avoid paying down the mortgage when you already have a very low interest rate right now.

Sept. 20, 2002)(stating that formation of LLC to avoid personal liability is perfectly legal, and refusing to pierce veil of LLC landlord and hold members liable for overcharge because corporate status or nature of the business organization must be used to perpetrate fraud, and LLC status of landlord was irrelevant to tenant’s payment of rent).Collins v.

i just read a thread about how some1 needed to rip out a kitchen because a termite inspection wasn't done properly. so i wanted to ask what is on your checklist of things to do prior to buying a property so you avoid situations like that

That person being YOU.I may not handle the operation side of my properties forever, but since it is my business, I at least want to know how to do each aspect of it competently.

However, I love learning about any aspect of real estate and look forward to meeting you all.

It really helps to have someone hold you accountable and help you avoid the costly pitfalls.

Even if he avoids those, there is often a learning curve with a new business.