As to your strategy, remember OPM is the key to building a real estate income machine.

I have a relative who works for L&I, where my source of information comes from as well as experience.

1) cash for keys - I was the allowed to maintain the building as per the current owners request.

Starting out on a new venture in Nevada, any advice on good sources of Seed Capital that may be exclusive to Nevada?

@Nick Mauldin : You simply ask for a T12 (YTD for 2017), Current rent roll, and a PNL for 2016 and 2015 (schedule E will suffice.)If this is a deal you sourced yourself by calling the primary, then they may be a little cagey about providing ALL of the above, but will often provide some of it.

Expect it. accept it, and here is the key.........manage it.

An LLC may be the perfect route for one person while an S-Corp may be perfect for another.While on the surface, both are doing the same type of business, the facts and circumstances regarding their financial and tax goals, their other sources of income, their tolerance for regulation, their family status and their retirement goals may be vastly different, which would affect the type of entity that works best for them.Taxes are not a cookie cutter, one-size-fits-all topic.

I'm assuming (and hoping) he hasn't actually signed any lease with you yet nor have you given him keys.

I am considering turn-key providers but many of them aren't reputable enough for me to feel comfortable investing with them.

Hey Patrick,The first thing I would say is that in order to be purchasing 5 rental properties per year, you will need to have an excellent team on the ground ready to follow through with the properties or working with a trusted turn-key property provider.I would maximize your loan opportunity by taking out the highest LTV loan you can get.