If you're passionate enough about your goals, then reinvesting that cash flow is a much greater reward than cashing out to purchase a *insert non-essential consumer good/service*. 

Needs all bathroom fixtures and appliances.) 

You may already have systems that you do, but if you have to hold an employees hand through the whole process then you are just paying someone to still have to do the work yourself essentially.

(Kitchen $12k, 2 bathrooms $18k, flooring $8k, paint, $12k, etc).There are NO SHORTCUTS to this process, it takes time and lots of practice.

However, I have been a bartender for 10 years so essentially I knew almost nothing about real estate either.

Updated all the bathrooms and flooring, Relocated and sold the property (should have kept renting it).

It essentially has your LLC name, address, and the amount they paid you over the year.

Thanks Michael, There is definitely a lot of work to be done:- Paint is pealing off all the walls- New appliances for 3/4 units- All units are required by the TWP to be connected to sewer now- Bathroom rehab for 3/4 units- Above ground oil takes removed and boilers replaced or retrofitted for NG (This is more a nice to have)I asked the owner if he would be willing to do owner financing and he said no...

I detest the ESA law because it essentially wrests control of property management from the owners.

Now that you have new tenants, make sure they fill out a statement of condition for the apartment/inventory list (essentially to document the status of the apartment before living in it).