@John Reagan Johnson hope you don't mind a PMC answering, but most of our clients hire us because:1) They live out of state and don't have time & expertise to remote manage2) They don't have the time to manage3) They don't feel they have the necessary expertise and/or don't want to risk learning as they go and making an expensive mistake.Go read Kiosaki's Cash Flow Quadrant book.

Any other questions or help with a loan, feel free to Dm or email me!

Also, would this loan help build my personal credit, or would it only report to business credit bureaus under my LLC?

If there is even a small chance, I would disclose.If I remediated the water issue and confirmed it's no longer an issue, then I would not feel the need to disclose that.Talk to a Chicago attorney to get the best answer....who would ultimately be the one who would defend you in court...when in doubt, disclose, and you'll be better off.

Hope all of that makes sense but feel free to post with anything else. 

They initiated the counter offer process on the property, but the counter net is more than we feel we should go on this one. 

@Kayla ElliottHi Kayla - Personally, I would go with a property management company especially if you want to get out of the weeds of managing your properties, which is a large portfolio! 

@Sarah Hadassah Negrón so you get a money judgment.Now you have to turn that into a garnishment action with the courts.To do that, you typcially need to have the tenant personally served - which means finding them or hiring a skip-tracer to do so.Then, what are you going to garnish?

So now, instead of feeling excited about a new investment, I was scrambling for cash, stressed beyond belief, and facing major repair costs with less rental income to offset them.That experience completely changed how I approach real estate.

In my voicemail, it states if they are interested, to "press 1 to speak with a live person" or "press 2 to be added to our do not call list".