On my STR, I included the HOA rules and if the renter broke those rules, there was a fee.

Don't rule out self storage facilities, especially Florida.

Charles Anderson just curious, if I sold shares of a LLC wouldn't I have to worry about SEC rules etc?

Tim Norris is a BP member and is with them as well; he can answer any specific questions you may have (might have to be via PM to abide by the forum rules).

Have clear rules so we know what you will fund and minimise the unnecessary paperwork.

Now you should take the 70% of ARV rule = $101k minus your estimated rehab of $52,000 so its purchase price for me not more than $49k.It depends on the age of the propertie if you should use a 50% expenses rule or better a 60%, I take always 60% if older than 40 years.

The first deal I did was 100% financed,So were the second, third, fourth…well, you get the picture.I am closing on a 10-unit in a couple of weeks, and this is the first time that I will leave 5% of my own money in the deal for a while.So YES, it is possible.

This one can't even meet the "1% rule", and most will tell you that at 1% you are lucky to break even at those low rents.

I did not tell RE agent because I thought the 90 day rule had been waived by HUD for FHA insured loans through 2014.

Depending on your state and local rules, and whatbisnwritten in our contract, you may be able to sue for damages.