Trusts do have benefits, but the costs for you at this juncture may outweigh those benefits.Often times, what people truly want is to just be protected in the event the unforseen happens with the property, and thus, a solid, robust insurance policy is often the most cost effective route at this point.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

. $16k entry cost plus closing costs.I have 20k saved in cash$83,000 pp 2bed 1bath 950sqft.

Are you financially in a position to handle the cost to see this project through?

You don't have a lot of equity in it after you factor in closing costs and realtor's fees. 

I live in NJ, and it has a very high cost of living and with the current rate of interest, makes it a very pricey market so to say, and not that investment real estate friendly.

Hey Anne, I'd suggest you do some research on the MTR rental rates and vacancy rates in your target area and understand the costs involved in renovations, financing and property management.

We can cover that monthly but would be happy with a 50% occupancy to help offset those costs.

When you start looking for multi families, you should look in their areas because they will be the lowest cost property management option.Can you tell me more about your Myrtle beach property, how you found it and how your experience has been with it?

Find architects or designers, engineers of all types, general contractor, etc. to design the project, and know how to keep the design where it's functional, cost effective, but has appeal.