. :)@C Bumby Yes I have a formal PM agreement and just as you anticipated, below is what's in the agreement:"(a) Manager shall exercise due care in the performance of its duties hereunder.

Investing in notes you can get 8-12% on a performing and higher on non-performing.

Recent interpretations have specifically cited that the performance of 1031 will only shelter the closing entity and seller from repercussions in a  firpta withholding situation if the exchanger completes a simultaneous exchange or has received a certificate of withholding.  

This budget works depending on the area you are looking.If you don't like how your agent is performing, then get another one, but ask yourself are you being realistic in your search (An example would be looking for a duplex in Northern Liberties, or Point breeze with your budget and all your wish list items checked.

@Christian Jones - Do you perform Phase 1 ESAs on residential properties or commercial?

The additional inspection was performed by an abatement expert and went towards the price of removing the asbestos.

Draws cost around $150 per draw, so you may want to limit the number you do and work out a deal with the contractors to perform part of the work and get paid the balance from the draws.Hope this helps.Stephanie

@Shawn Davis While I'm just getting into the purchasing game as opposed to the selling game, I know lots of investors who have built their entire portfolios (very well performing portfolios) in this market.

At 500/600 per month, just make sure it's well insulated, ac/heat works, decent flooring, well-patched roof and slap some paint on it.

The usual course of affairs is the the heirs get the property at a step up and if they want to continue real estate investing they will either sell immediately with no tax or they will continue to hold for a period of time and then start performing 1031 exchanges themselves.As they get closer to an age for retirement or when they get tired of active real estate management they will position their portfolios from active to passively managed properties and philosophically from growth/appreciation properties to cashflow/maintenance properties.