Tons of recreation as well so could be good for a short term rental or medium rental

Prepayment penalties- usually 1-5 year terms.

Prepayment penalties- usually 1-5 year terms.

**Risk of Cross-Collateralization**: All properties are typically used as collateral, so if one property underperforms or defaults, it can affect the entire portfolio. 2.

Hi Tim, It is possible to purchase a property in NY with the LLC, but you typically need to register the LLC as a foreign entity in the state you want to do business in. 

The combination is that high LTV financed RE is not only at an all time high but in terms of inflation adjusted cost is at greater than 40 year high.  

What advice would you give to an investor starting out in terms of location?

BTW, I have created several MMLLCs, some with people I initially never met face to face, and at the core are general terms and, legally, the Operating Agreement.

Make up your own terms. 

I'm particularly passionate about Long-Term Buy and Hold Investing.Outside of real estate, I enjoy Triathlon, Beer Runs and races, and pretty much any outdoor fitness type activity.Excited to learn and connect with you all!