However, I’ve finally decided it was time to put all my knowledge to action and start wholesaling to help fund my rentals.

However, I’ve finally decided it was time to put all my knowledge to action and start wholesaling to help fund my rentals.

However, I’ve finally decided it was time to put all my knowledge to action and start wholesaling to help fund my rentals.I have a motivated seller, who has verbally agreed to sell me her house at 55k.

I suggest you look at other comps and decide your rehab budget/specs based on the #'s.

So, not many years ago I decided that I was going to break the corporate bonds.

At $100k I am $25k into my "safety net"...and I am very risk averse.Anyway after seeing the property sit a year I decided to reach back out to the owner (its a FSBO) and have another conversation.

I've been a member for a while, and decided its time to post...my wife and I are interested in SF rentals, or live-in rehabs that we would then turn into rentals. 

Giovanni,If you decide to go the LLC route you should consult with a good Real Estate Attorney and make sure the set up and your proceedures do not make it likely that the corporate veil will be pierced. 

Also if and when you decide to move out the unit would be able to charge market rent.

I also found my fence collapsing into the neighbors yard, a burnt couch and they decided to use my property as a trash pit between the last time I seen the property and when I moved in.