For the basement, you need to check with a property manager and a General Contractor to ensure its legal to rent and has everything it needs to be legally rented.

They renovate it with their own contractors to save costs.3.

I’m also working to develop a list of contractors and handyman services in the area.

I’ve already again talked to contractors and got good estimates knocking down this one wall adds aton of value to the house.I estimate the additional amount would be $200-$300 a month after a remodel. 

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

This is key when you're not nearby.Professional network – See if they can connect you with other local professionals like contractors, inspectors, or property managers.

You need to work with RELIABLE contractors & Have a Real Estate Agent that is hunting for opportunities.

There is no way these are licensed and insured contractors. 

Find a good agent that can connect you with contractors, lenders, Pm's and most importantly deal flow. 

I'm a small contractor and builder and I'm looking for Sub-2s or Seller finance properties in Austin Texas, and I will definitely pay $10--15 k cash, no ******** for the right deal.Jerrys deal would be sweet (for him) if it worked, ie get hundreds of people to pay you money to find great RE deals and then only pay for the super sweet deals (and then take plenty of promotional photo shots to post on the web site to impress more potential buyers for the software program and couching)Obviously the other huge issue that new and hopeful RE investors MUST consider is...