Is that common knowledge and practice, I doubt it.I'd try to have a good reputation in a small town if I wanted to stay in business. :)

Much of this can be learned, but skills only come from two things, ability and practice. :)

Christian, after I get past my first property and want to put additional ones under an LLC do you practice in real estate/contract law?

But, if you're doing it for practice then approach the seller, explain you have some investor buyer and decided you don't want to hold the property and that you'll pass it on to your buyer.

In practice, I have been doing both (1) and (2), and attorney is comfortable with (2), though I know that Bill doesn't like the approach, and he makes some good points.

Thanks, Paul @Paul C,As a practicality.

@joel owens I have not ventured much in the HML practice yet.

No living in a home being practically gutted for 3 months, no $30K commission fees, no showing the home every weekend, QUICK.

The snow removal ordinances I see don't expect any snow removal during a storm because they are all phrased in this way.As a practical matter I try to do several snow removals for really big snowfalls (a foot or more) and I advise my tenants to do the same.

These strategies, if properly tested, can produce very good projections with, in practice, very low risk and high return (e.g. more than 10,000% pre-tax return with max drawdown less than 10% for the last ten years).