Run.

Now in purchase money states like the were we live risk of a default does not exist.. but in a State like Texas a seller could get twisted up pretty bad.

I do have an empty lot next to my current SFH , doing nothing (but costing me money to mow :)) my thought was to build a detached guest cottage to serve as an overflow for guests or it could also serve as a seasonal / monthly rental.

What caught my interest about upper darby is the demographics and there’s not so many run down homes and abandoned homes as there are in parts of Philly that have the same price (we bought it for $215k).

Hey @Jay Levy, an easy option is to use keycheck to run your background and credit checks.

Short of specific decisions or clear law, the distinctions seem extremely vague, arbitrary, and a bit scary.

I agree with a lot of the advice already given (i.e. legal lease agreement, maintenance team, etc) i would HIGHLY recommend utilizing a property management software to run everything through.

How do you know you are going to make money and avoid a trap?

Investment Info:Large multi-family (5+ units) hard money loan investment in Johnstown.

This duplex is in a short term rental are that I currently operate in.