The principle that Todd mentioned here is to attract investors, you need to be perceived as an expert - others even coined the term "expert marketing".

Purchased sight unseen!

@Hai Loc: $410k Purchase Price with $82k down, no capital gains tax from what I've read as it was a owner occupied principle residence. 

This is going to be a 800k paperweight.I think you were aggressive with your P&I numbers, but just sorting through that...5200 a month in rent - 3181 in principle/interest - 375 in taxes - 100 in insurance = $1544 after debt service.Your CAPEX and maintenance are way too low.

I called back a couple weeks later and told the agent I wanted to put an offer on it sight unseen contingent on showing, inspection, and vacant at closing.

At the same time, if they actually prohibiting tenant screening, it would result in such a disaster it would be a sight to behold. 

There isn't a lot out there about the four principles... and their website is light on the details of their investment strategy, management pedigree, ect so that leads me to believe they aren't looking to raise money from individuals or people they don't already have connections with. 

But the city is very short-sighted and doesn't understand that it needs outside money to come in and infuse the economy with cash, jobs, housing.    

I guess I should've included a bit more information about my situation:- I've got my sights set on Upstate New York for my first investment.- The properties I've been looking at are mainly multi-family homes ranging in size from around 2,000 sqft up to around 4,500 sqft.- My family's home that I've been using to estimate my expenses is a 2,500 sqft single-family house located on Long Island right outside of New York City (Southeast New York).I hope this information helps!

On other thing I've seen on several sights is how if you have multiple similar LLC's (like 10 LLC's for just 10 houses) the courts could tend to assume they are all 1 LLC type and if the suit proves true negligence a judge could decide against you and possibly pierce the veil.