Ok.....Year one of flips is coming to an end (kinda of...) and it started great and it continues to move in the right direction.....Now comes the really fun part of the business.....Rentals....Just like when we started, we knew nothing about flips and now know enough to be dangerous....Would love to have some input on things we should know, ask, etc as we move into our first rental property....Working on making an offer on our first as we speak and here is what I know so far...Property asking price: 129kType: DuplexAlready have tenants and recently signed new lease agreementWhat are some of the items we should look into or better yet, not miss as we go thru this transition.

I'd like to continue speaking with you outside of this discussions and listen to some of your ideas.

In order to find a good property management company, first of all you need to know how long it operates on market.

I don't like the uncertainty, so I am going to continue to contribute until I retire. 

As you grow in one area you will continue to grow in others.

Congrats @Ryan Canfield. to continued success...

If you work with a quality firm, they will not only setup the plan but be available to you as advisors and guides to help you operate and invest with the plan.

So I took the red-eye to Indy, and spent a day with Clayton's acquisition manager, Bert Whalen, and Bert's wife, Natalie (the property manager for the whole operation).  

I am 24 years old and I currently own and operate a supplement company.

If the first property is not a partnership and is just you, you can setup an LLC that is a disregarded entity such that it operates as an individual with just a SS# for tax identification purposes and then the LLC provides the asset protection and your new partner could do the same and the two disregarded LLC's could be the TIC owners and you have some level of asset protection.