Most of my competitors don't have a screening process, accept online payments, or know how to handle an eviction.The real question is, can your manager justify their fees?

Just keep in mind that these structures are more complex and therefore more expensive, so you will be trading $800 tax for a higher cost of setting it all up and possibly some annual compliance costs on top of it.Maybe accept your $800 sacrifice to the Evil Lords of the West Coast as the cost of doing business and focus on increasing your cash flow.

If that offer gets accepted, should I be worried about not getting approved in time?

You could also ask if the sponsor will accept a lower investment amount.

Get independent inspection - do not accept the words of selling party, no matter how reliable.

Contract was accepted Everything was going smooth until the virus came and everything shut down.

I require tenants to give a 30-day notice in writing, pay an early termination fee equal to a month's rent when they give notice, in that they allow me to market and show the home during those last 30 days. over 80% of departing tenants accept these terms and I end up making more money because of it.Negotiating a win-win is always the best option.

@Rob McAllister I wasn't able to do the motel conversion as the seller accepted a different offer.

Knowing the ins and outs of managing a property, finding good contractors, and working through everything that comes up will help you in the long run when you have to put your trust in other people out of state to manage your investment.Also, a factor to consider is that if you are able to house hack, you not only get the cash flow (if you accept being less comfortable, it's not hard to cashflow a good amount) but you also cut out your living expense.

No, if the lender or foreclosing entity accepts a bid lower than the judgement amount then the lien gets wiped out regardless.