We would be equal stakeholders and I seem more committed than him so I think an LLC would be a good idea in the event that one of decides we no longer want to continue.

It's usually easier to continue in a formal business education in RE aspects than to enter an association course.

Once I had achieved my financial freedom I would continue to pursue my education by studying the subjects my interests lead me too.

(documented and continuous work history in order to qualify)FHA is only for 1 to 4 unit structures.With FHA you will have an upfront mortgage insurance premium (UFMIP) and then monthly mortgage insurance after that as well.

I just could not go much over that to make the #'s work.It needed a roof and siding along with all the needed kitchen, bath, floors, and paint.So to the next one.I will continue to search for the good value and not just jump at something that is a loser

Ben G- Interesting you mention about being a pioneer- I've had the same concerns, but I continue to look at a specific area of town like you describe.

I hope they continue to do so, because tenants will leave their unkept units and move into mine.

Will the seller continue to make payments?

These will generally continue to fall into disarray for at least this decade, I suspect.I just came across one that looks just sooooo tempting.

We're now working on our first flip, and are planning to sell our current home once renovations are done, and move into a small multi-family closer to my day-job in New Orleans.We'd love to connect with other investors in both the Mobile and New Orleans area, or really anywhere (we like to travel) and continue to grow in the REI field.