New Jersey’s taxes cut into the former. 

@Malorie S.Put the money in escrow so you can get it repaired.

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The unknown is a big factor that WILL cost you money in the long run.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Purchase price: $194,500 Cash invested: $51,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

Yearly taxes is roughly $2k.

My  CPA strongly suggested that I set up my LLC in the Tennessee for tax purposes.

This scenario I set (even though this property is really listed for this much), I factored in the investor not coming in with any money but instead using 4 PMLs.

How do I find a collection agency that will do it for free and just take a % of money collected.