Yep ... guess that means that (according to the rule) nobody ever makes any money in REI in CA, right?

@brieschmidt - Makes total sense and I guess I should have clarified further.I am looking to purchase turnkey properties (not afraid of a small rehab $5-10k) which I can hold for the long-term.

I guess I need to dig in to see if that's a hard and fast rule.Thanks again,Nick

But then, I guess accuracy isn’t the goal of that formula.

that's awesome, way to go.since you lived in it i'm guessing you got a run of the mill mortgage?

In all my years of land lording and PM I've never had a call about a burnt out/broken ceiling fan (guess I've been blessed so far).

I guess it all depends on your area, but thanks for the input!

Hello bigger pockets community, I guess I'm kinda new to the community, I began my account here sometime ago, to dip my toe in the water and see what was happening.

I guess I should have asked as well, oops:Does this seem like a good deal?

@Blake Elder On a sidenote, using a deed of that nature will  not convey your existing title insurance to the LLC     You should use a grant or warranty deed     They are the same thing just a different name      I could be wrong on this but you may want to look into it     Furthermore I don't think there's any more cost associated with the grant deed     I guess you could always talk to the person who gave you title insurance