. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.

I'll let others chime in on their experiences, but from a motivational perspective, I think attending live events and getting the "conference high" is something that only happens through in-person connections and being in the same room with investors who are eagerly pursuing their real estate/financial goals. 

If they do, you may have a chance under the scenario you're proposing - if they share your concern for it's condition (although that seems unlikely since they've been living with it the way it is for some time, it seems).If you own it, it's pretty lowbrow to expect a neighbor to invest in your property. 

Consult someone who actually knows what they are talking about/does this for a living, but most of your tax savings are only going to offset the earnings of the partnership rather than one of you individually.

If you and your spouse own the LLC and live in a community property state, the IRS may allow you to treat it as a disregarded entity for tax purposes, simplifying tax filings.

We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

(I currently live in south MS, so the Gulf Coast is where I am looking)3.

He lives locally, is very responsive.

Living closer to work saves time and money.

I lived there for a couple years and I met this guy who has bought and managed a ton of property there.