I will have properties (Multi-Family/Duplex) in KS,NE, FL and CT.I'm am planning on going after Foreclosure properties or purchase properties at a discounted price buy and hold.

This site is just a treasure trove filled with on going real estate advice and wonderful for networking with solid hands on professionals.

Lucky for me, I bought a business from an S Corp through an LLC I formed, and the S Corp and their owners had an ongoing $3 million lawsuit against them.

In the future, who knows.. there might not be a benefit to having an ongoing investor.

It releases pressure on going through with a horrible decision.

I'm planning on going to a few auctions, too, so I'm interested in the replies.

You want things such as ongoing quarterly updated business and personal financials.

Generally extremely high risk.. you can buy sub 30k in just about all mid west upper north east and deep south larger cities. almost all will be in the roughest neighborhoods with the most crime and worst schools.you can though find little towns in the mid west that are out of those areas that don't have the social issues.. but you can face low rents and vacancy issues. but it can be done in those areas.not sure its a wise move unless you can buy a bunch like 10 to 20 of them so you can income average that tenant base will turn over a bunch and have on going issues..

We've made our partners well aware of the realities of distributions and have ample reserves set aside as well as ongoing monthly contributions to reserves.

It's an ongoing hot mess.