I should have asked what didn't go according to plan and how they handled it, and what the ultimate outcome was since the brief summary of that deal just says they sold at a profit.4.

Your success in real estate will be determined by you ultimately.

List on facebook/Boost post2.

It's crucial to understand and follow local laws regarding deposits, documentation, and timelines.A local property manager I knew had a lot of questionable and shady practices, but the one that ultimately led to his downfall was poorly documented and unjustified security deposit reconciliations.

Ultimately, structuring future purchases under the LLC can streamline tax reporting and potentially allow for more deductions and tax benefits if the LLC grows and qualifies as a separate business entity.The lender will not directly finance property in the LLC most of the time.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

As a novice manager and ultimately new to the processes as a whole, any history of eviction that is recent enough to be on-record (last 7yrs) is scary enough based on precedence alone... 

You have ultimate responsibillity for what is reported on your return.

So, as you note, hopefully there is still enough liquidity/cash flow in the deal to keep it afloat long enough to ultimately pay off (or at least make all your money back).