If it's a really great deal go ahead and lock it up with as cheap earnest money as possible now to get rid of competitors so it changes to pending status.I can guarantee others are looking at it right now and running the research you are as well.Get it locked up cheap and then do most of your research in your due diligence period.If you find you do not want the deal you can always assign it for a fee if allowed or bring in a partner to help with additional costs that is discovered or you can negotiate the price down further.I see it everyday where an investor does too much upfront work and do not get it under contract and lose out to someone else.

So don't look at it as a substitute for good insurance or fair and legal business practices.With an LLC, you can file taxes as an S-Corp, as long as you make the designation ahead of time, by March 15th I believe.

I have noticed many cities have a listing of boarded up houses that they are "auctioning" off.

If the interest rate on my loan is 4% and I am going to receive interest benefits, I feel I only need to make slightly over 4% and I come out ahead.

Also, I noticed my lower priced rentals went up the most, while the 4 figure rentals hardly moved.

I notice the age of the roof is 18 years old, and no repair or replacement work was done since 1994.

You need to be able to look up Deeds, mortgages, notices of foreclosure etc.

If only one reference is provided, this may be a red flag.3.Look for reviews about the lender online: If you find good reviews, but you also notice some very bad reviews, take warning.Group members, please share your experiences or thoughts on this topic.

When I mentioned that I would eventually move to rehabbing, he did go ahead and quote me for general liability based on rehabbing construction, as well as coverage for any possible accidents while showing a property.I am still in the process of creating an LLC through my attorney, and do plan to carry a decent policy once my agent figures out what to actually cover me for :D FWIW, I mentioned an umbrella policy to my agent since I have seen that tossed around here a bit, but he said umbrella policies are for individuals.

To restate the question, when you formed your business, what costs did you fail to notice?