You can definitely create an LLC independently but its the OA language that's the tougher part and something that should be reviews with legal expertise. 

Your residents would benefit with better gym access on the road, the gym would get a little more revenue each month; and you can advertise the benefit without sacrificing square footage.Thanks, and best of luck.

When I have done that in the past, we had a purchase agreement written up by a lawyer and the seller reviewed.

@Teahjsia Frazier one of the best ways to build a portfolio is to do owner-occupied transactions so you can put down as little as 3.5-5%.If you're single, house-hack by renting out all the other bedrooms - even live in the basement and rent out all the bedrooms to generate as much cashflow as possible.

Find a deal, run the numbers and have money if something hits the fan. 

You may discover the tenant can't afford the increase.

In the closing docs, there was a document that signed over the rights of the current lease to me.

Things like the demographics of the area, crime, ages of property, history of the area, known property disputes, etc all help. 

In order to defer all of the tax you must purchase at least as much as your net sale, and use all of the proceeds in your exchange.

I was the highest bidder and only bidder on a property on Hubzu.