We also have to carry certain amount of insurance both GL and errors and omissions insurance.. basically if we mess up its our fault. 

Its also an extreme security issue since you'll be known to carry large amounts of cash when in the neighborhood.

I do not currently own any investment properties and was wondering if by hiring a property manager that you can reduce or eliminate any insurance policies you may carry for that property as the liability now lies with them?

@Andy Levin never go into a deal that you can not carry the worst case scenario of vacancy or maintenance.

Hopefully it will inspire some of the new members to carry through with their projects and make their investment dreams come true!

The seller has given me the option for them to carry the down payment of up to 20% of the purchase price at 5.25%, am over 30years.Each unit is currently rented on 1 year leases.What else should I be thinking about before making a decision on this property?

Buyer put down 30% down and I carried back a note of $140K with monthly interest only.

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

@Aaron Moayed This is not tax advice, however, don't you just carry forward the depreciation that is in excess of your profit? 

@Aaron Moayed you always claim depreciation, regardless of cashflow.Now if you have a high AGI, you may not be able to deduct the loss from your income, but you can, and should, still carry it for future use.