We've gone the full property manager route and didn't regret it because we've been lucky enough to have decent PM companies; however, we have found we can do this ourselves and it isn't time consuming or difficult.

If it's over 20 lbs full grown it will not go in my units....This last one is tricky....Do you smoke......ANYTHING.

We have had some issues with getting insurance for the Florida properties in the LLC and also related issue with the Mortgage (which is in our name).When our lawyer requested EINs for the LLCs we were informed by the IRS that we need to file a 1065 for each of the LLCs.Our structure is that the LLCs are owned by the two Trusts (50%) in each of our names.

In this environment, it will probably be structured something like 8.50 - 9.25%, Up to 70% LTV & minimum of 1.1x DSCR

I don’t know your full situation, but getting a masters degree is hard and important.

The guy who is 'buying' it from us bumped her rent 25% & given the rent was below mkt she had no problem paying the increase.The neighbors call her the 'smokin hoarder broad' because the home is full of fridge magnets & she is the ultimate chain smoker.

Given the current rental property mortgage rate is well above 7.2, and it looks like it is not going to go down any time soon...i expect it will take 3 years to go down by 2 pp...Is it still dumb to buy a 500k investment property full cash and plan to cashout refi in 2,3 yrs? 

As the entry point in NYC is so high ($1-$1.2), the type of house I would be flipping would need a full gut renovation and my conversation with any of the banks is that they would only lend to a house that is livable now and I would need 30% down.

It’s possible I did a poor job of explaining this, this isn’t really a service for investors per se’ in fact I would probably in an ideal enjoy doing this more for primary home buyers, this to me is an alternative to the 2.5% commission model, you cut out the most time consuming and often in my opinion least valuable part of the job which is showing people around and opening cabinets and seeing if they are soft close or not lol (I presume in this new world there will be more open house, more showings by listing agents, possibly more services that allow buyers to show themselves houses like the Redfin does on some of its listing) because of that plus the guarantee of getting at least something for your time allows you to theoretically charge much less while still providing the important parts of the job, like you should consider this area, let’s go over this home inspection repost, here’s how we should craft an offer etc, even spending time explaining rent vs buy calculation and personal finance etc, plus the being able to be paid regardless of your advice, I’ve had countless clients who has just a myriad of bad ideas I’ve talked out of, but of course you don’t get paid for that in this commission structure.

Generally, the law requires that buildings undergo structural inspections every 10 years, once the building turns 30 years old, and that the building association proves it has adequate reserves to repair / replace anything that is flagged in inspections or projected as a needed repair in a timely manner.