Potentially something unforeseen came up that influenced the final sales price, but either way that would be an instance when I left food on the table (for the opposing party!) 

You may not make as much as you potentially can with direct real-estate, because you won't have the ability to put in sweat equity.

Once you've identified potential properties, schedule tours to assess them in person and address any queries.

@Colin Flynn MTR’s can work here but there are some potential limitations.

This arrangement not only compensates the agent fairly for their services but also serves as a motivating factor for them to prioritize you for future off-market deals, potentially giving you an edge in the competitive real estate market.When it comes to selecting a proficient lender, I have employed several effective strategies through my experience.

Hey folks, 
I'm new here and researching SMF homes in Rochester (Edgerton) and I found something that might work for me, but I'm not sure if I'm thinking about this correctly. The asking price is $80k and I'm securin...

There are free tools online everywhere, but basically you want to do the following:Gross Potential IncomeLess Vacancy= Gross IncomeSubtract the following expenses:Real Estate TaxesHazard InsuranceLiability InsuranceMaintenance (yes, even if you plan to DIY)SuppliesProperty Management (yes, even if you plan to DIY)UtilitiesLawncare/Snow removalLegal Costs (evictions, LLC formation/maintenance)Bad Debt (non-paying residents)City Occupancy LicensesPayment processing fees (for debit/credit cards)This will get your Net Operating Income.Then subtract debt service. 1st mortgage2nd mortgage (if applies)Line of Credit (if applies)This leaves you your free cash flow.

So basically, your parents shouldn't face any tax consequences as long as they're just contributing the property to the LLC and not selling it.However, it's important to be aware of the potential for reassessment of the property's value, which might impact property taxes.

Looking at initial quotes for this expansion while utilizing the same renovation refinance loan I discussed above, the potential negative cash flow will shrink from 2000.00 a month to 1200.00-1600.00 a month, which is not much of an improvement.

@Michael Doughty Your property definitely has the potential to benefit from a cost segregation study.