When in a small, highly peculiar town, it's actually more efficient to ask our regional network.Plus it helps show factual like-minded teamwork.

, maintenance (beyond what the HOA covers), and property management (if you ever decide to no longer self manage) - you may be losing more money than it initially appears.HOWEVER, the Beverly area is on fire right now, it is completely possible that property values will continue to climb quickly, and you could exit your condo in ~5yrs and make a nice profit (keep in mind you'll have paid closing costs once as a buyer, and once as a seller at this point, which will really eat into the profits if, say, you bought at $250k and sold for $300k - not a straight $50k profit, plus you had negative cashflow over the years too).So...

I hope you do not mind.

I listened to Rick Dad Poor Dad when I started college and have had real estate/business in the back of my mind ever since.

Neither will the other title company in town.Here is the timeline on this parcel. 2013 - Collector's Deed issued to the city due to a lien placed on it for the expense of demolition of condemned house2016 - Declared excess property by city2017 - Sold at auction to an acquaintance of ours who intended to build on it9/2018 - Owner changes his mind about building and agrees to sell it to us for $5,000Now, $5,000 is no big risk to worry about someone clouding the title by claiming that proper procedures weren't followed and trying to redeem it, BUT we plan to put about $120,000 into building a duplex on it. 

Contrary to previous opinion, you can force a Seller to sell if they are defaulting by simply chainging their mind. 

One other idea would be to find a company that has a “peace of mind” package.

Thats the simple answer mind you.If you are wanting a SFR for your main residence then you either need to make sure that the rent you get, from the unit you use to live in, covers your new mortgage in order to keep the same cash flow and savings.

Over the years i have been extremely passive with the business and never took the time to really learn how to property invest in real estate, i just assumed i was doing things correctly, i didn't know how to do the numbers, just went with the flow.Since im down to 5 rentals and i made a very small amount of money selling off the negative cash flow rentals that just never recovered from the market crash in those 2 areas, since i bought to high in the peak of the market prior to the crash. i decided to apply for a mortgage to purchase another rental in my local area using some of the new knowledge i have learned recently, but after applying for multiple mortgages most of the places i applied basically said no, that cash flow to money lent to me is in a risky zone, basically i own properties that were not bought with rental numbers in mind, so turning them into rentals they barely cashflow except for my very last property i purchased that i did basically a flip on, that left lots of room between the mortgage payment and rental rates in the area.

I can't give you a solid answer on which would be best for your situation, but just a few things to keep in mind.