$1.5MM settlement fir injury on propertyWith LLC, after my homeoners $500k is exhausted, im on the hook for additional $1MM, and the $600k in equity is cleared out right, right? 

Linval - thanks so much for your exhaustive guide for beginners on the forum!

Clean the mold up with bleach and repaint with Kilz, put the exhaust fan in like suggested earlier. 

Plus, on top of this, you’re competing with the a massive affordable housing shortage on the island where first time homebuyers are willing to spend much more than an investor.  

In most states, a car can be repossessed faster than an eviction - and most tenants know this.So, why would a landlord NOT take a car payment into consideration when qualifying a prospective applicant?

The BP folks say you have to keep looking, but honestly it is absolutely exhausting to not find anything day in, day out.

When all is running fine, I easily spend less than an hour a year doing much of anything.

If you are planning to do this yourself, even a guru course is less expensive and more helpful than an MBA.

I can tell you that I've done a few hard money loans to other investors in Killeen recently, and they've never had problems paying me back, so use that as an extra data point.Personally, I'm both too lazy and not organized enough to do deals more than an hour away (unless they're truly phenomenal), and I tend to discourage new investors from doing the same, although if it's truly your only entrance avenue I would say at worst it'll be a cheap education.

The idea that you can buy a note from the bank at a much deeper discount than an REO from a bank is quite unknowable.