So, not exactly good asset protection there from a business standpoint.The only time an LLC is better than an PUP is if they somehow successfully sue for over your maximum of liability of the PUP and they can't pierce the veil. 

The owner/renter ratio can be key for financing and other factors.Maybe your spell check changed "low" prices to "life" and I think you run the numbers just like you would with any other rental.But then also try and analyze all the other factors that come with common ownership (probably too numerous to list exhaustively).My own experience is that condos can be easy to manage (you can attract a high quality renters, for example, to nice condos) and simple to maintain (no exterior maintenance), but the dues (and assessments) can gobble up cash flow. 

Mortgage brokers many times have more overlays than an individual investor friendly lender. 

I actually have a workshop that day in downtown Charleston, but if we're done in time and I'm not completely exhausted I'll definitely stop by.

All of my negotiators recommend a deal after an exhaustive financial analysis and after verifying that all the requirements of a short sale are met (Like being listed with an agent, executing a 4506T, providing a hardship letter, bank statements, tax returns, Arms Length affidavit, budget, etc..) and then signing off and verifying all of the requirements are met so that when its all done, a subsequent audit from an outside entity or regulatory agent will confirm that it was done properly and NOT just because some talented negotiator thinks it should have been done.

And then the lender puts on a VERY expensive forced place policy.With a lengthy rehab, better to buy an "empty house" or "builder's risk" policy than an ordinary landlord policy.

good afternoon bpers-just wanted to get some advice from the experienced investors on here.let me give you my story**2002 to 2004- (idiot phase)-as a newbie i use my perfect credit to buy 5 homes in dekalb county,ga at prices between 80 to 100 k and put them on section 8-still working a full time job**2005 to 2007- i kind of start to acquire a lil knowledge in buying and rehabbing .i do most of the non skilled work (painting,sheetrock.landscaping etc and hire reasonable contractors for plumbing ,electrical etc. i easily replace my job income by simply selling 3 to 4 rehab homes(using hard money) per year- so i quit my job and am now a full time real estate investor**2007 to 2008-credit is still great at first however as the deals start to dry up and section 8 tenants begin to move -i have to go in remodel the rentals i have for new tenants and instead of being worth the 80 to 90 k i still owe-the rentals are now worth 30 to 40 k.i carry the wieight for about a year until i exhaust all my savings-at a certain point i cant do this any more -let all credit go (houses,credit card,cars -all of it-so now credit is too**2009 to 2010-i realize this market is actually to my benefit.i approach my main hard money guy and ask him to finance several of these low priced homes in 2 year cycles.the agreeement is i will buy 3 to 5 rentals at a time for 20 to 40 thousand dollars.during that 2 year cycle i would then go rent those houses at 850 to 900 per month-his payment would be 300 to 400.i would live off the difference.then i find other fixer uppers and do a great rehab then sale.all the profit would go to paying off the rentals.**2010 to now (worked myself to death)-basically i have been paying off between 2 to 3 rentals each year-because all of the profits go to lender i have pretty much been working nonstop -but on the flipside now i own 11 houses outright.i owe the lender on 2 more rentals (about 70 k) and clear about 10 thousand a month** now my question-if you were in my shoes -taking into account my credit situation -what would be your strategy to leverage your assets to pull yourself up from doing 6 to 10 deals a year to 12 to 20. i realize i will only get so far spending 80 percent of my time doing most of the work like i have been

I think someone above hinted at it but doesn't the City of San Marcos have an ordinance that does not allow an active student to rent anything other than an apartment?

How you underwrite the performance of a property and how each investor does may be totally different.An appraisal is just an OPINION of value and has nothing to do with the actual performance of a property going forward.Someone living in one unit and getting the other unit to pay the mortgage or some of it will usually assign a different emotional and monetary value than an investment only standpoint.4 units tend to be better for break even occupancy.

Also, the 'world', or more aptly put, the 'worldview' of an agent tends to be a bit more 'structured' than an investor's viewpoint.