Is the home offering typical long-term rental look/feel/amenities, or is there something a cut above on offer?

@Steve OrluskiWe have 20 year amortization loan which cuts down cash flow.Even with that, we are at 4% cash on cash with current rents which are generally $50 to $75 below market, Day One.Given Covid issues, we will proceed cautiously on rent increases.By year 2, we will have rents on all units to CURRENT MARKET VALUE and cash flow will go above 6%.From there, we will improve units and increase rents nicely,Median HHI income is $80,000 with few apartments.

In any which way, whether you're buying to get sweat equity or turnkey, the 30 year money gains will show you that you'll make tons of money.Putting 20% down in a good area in 15 or 30 years gets you an 100% free and clear property with rent along the way (numbers have to make sense for you).Anyway you cut the slice, you'll win

Any damage that is there you will be on the hook for until you set the baseline.It is very frustrating when you know the hole in the wall was not there when you bought the place, but you are cutting them a full security deposit check refund, because they say the hole was there when they moved in....

I think it is a great way for people to cut their teeth in the industry and get your feet wet.Feel free to reach out if you got any other questions!

Unless you form a C Corp or elect C Corp status (both generally not advisable), you will have a pass through entity so the tax on your cut of the profit/loss will be calculated on your personal 1040 tax return.  

As it pertains to an LLC, cutting checks to contractors, etc could get cumbersome quickly, unless you can use a business debt card. 

The express way was being extended to go from Fredericksburg directly to DC which is going to cut time from commuting.

@Obed CalixteWell going off of what everyone is saying, flipping remotely is nearly impossible in that you must be at the property everyday to ensure the GC is doing their job and not cutting corners and what not. 

I think for that sized house and redoing everything, $60k is not going to cut it.