If you feel you are confused having an LLC is not going to improve the situation.Get out a sheet of paper and create an ordered list of all the steps from what you remember.

Mike, great input.When I mentioned pyramiding, I was referring to the practice of using equity from one property to buy another.

You wind up spending more cash improving the replacement property for rental so that you can hold it to satisfy the IRS requirements.

Many business do impose the use of a HUD-1 even when it is not required as it is considered best practice most of the time.

The seller waits to get paid off until the property is improved.

An attorney, title agent or the equivalent who understands the industry, the customs, the foreclosure practice, and how the title insurance industry works.

When selling do most people use a realtor to sell it faster or do they seel themselves to improve return?

You need to know the boundaries or the range of possibilities yet you do not need to an expert in every dimension.If wholesaling is the way to go then study wholesaling in great detail and practice.

I want to gather everyones thoughts on improving rental property.

And when the housing market turns around, the value of my properties will improve dramatically, so I want to buy while the market is bad.There are exceptions to every rule, of course, and we haven't bottomed, but in twenty years I think that buy-and-holders who took advantage of this environment will be glad they did....