Corporations allow you to isolate and disconnect should things ever go wrong.A corporation will help you clone your self, so there will be two of you so to speak.

However in a Condominium Hotel, during the time they do not occupy their units, they have the option to rent out their Condo through the hotel management and receive rental income on their property making the ownership of a unit an income generating property and self-liquidating investment with hassle-free property management as the hotel can rent out their unit, with all the services provided, by day, week or month.

Now in my calculations the following numbers are really thin to the point of not working when I take into account the hard money fees and holding cost that would be assessed.

larry,what is your objective for your purchase?

Do your comps, get an accurate assessment of what it'll take to get the property up to selling standard, and for really big projects, make sure that you have a good contractor (unless you plan on doing all of the heavy work yourself).

i have been trying to take the leap and in a month, when i move ,i will begin to buy, rehab and sell (and whatever else).when i have an idea or am perplexed about a certain problem i need to post on biggerpockets.we , as humans are always so afraid to open up because we do not want to seem foolish.on biggerpockets i have been reading posts and getting wonderful insight from many different people.i have decided to open up on any problem or question.this is step one of my self-therapy.post,post,post !!!

If you have lived at the property and done work on it yourself, paying $165 for clearing vines is something you can object too; however, if your locality actually FINES owners for unsightly conditions at their property - this cost may well be worth it....time to consider tasking the TENANT with yard maintenance.As a fee property manager, I hold a minimum $500 and max of $2,000 in my owner accounts - $500 is about the cost of replacing a hot water heater after hours.....second guessing your property manager about repairs WHEN THE RENTAL MARKET IS SOFT is like shooting yourself in the foot.

I am a self employed residential contractor in the beautiful Ocean County area of the Jersey shore.

Just a little bit about my self: I currently work with Weger Mortgage and in the past 6 years that I have been doing purchase loans I have never held up an escrow for a loan.

OKAY SO THIS IS WHAT WENT WRONG.omg. i had no idea being part of a condo association is so ridiculously annoying. i thought paying assessments would reduce the burdens as a SFH owner since everything is taken care for you. well #1, they refused to let me move in on a weekend but i work 5 days a week and have no place else to go so i crossed my fingers, UHauled my stuff, and hoped i could move in on the day (sat) after i closed. i moved in but the security guard said i should be expecting a fine for an "unauthorized" move.then me, being a complete newbie, tried doing as much rehabbing as fast and as soon as possible. got a guy to tear out all the old fixtures, vanities, flooring, cabinets, etc... got a painter to come in to paint... guess what?