Tenant remodeled the unit, has good relationships with the owner(seller) but was cought off guard by the sale of property.He is planning to buy the next dwelling and asked for extension of his stay.I, knowing little about possible issues, gave him a verbal agreement that he can stay until the end of June.

How many of you just dove in and randomly selected a budget "because this is the money I can afford"?

The first is a two family complete gut and replace and the second is a single family home the requires a less extensive rehab but still some major items.

My advise would be for you to do an extensive amount of research on the benefits of owning your properties in an LLC, and then make your ultimate decision from there.

I know there is a lot of discussion on how LLCs aren’t necessary but I’ve been over this with my attorney extensively and the LLC is necessary.

I have extensive information on this deal.

Unfortunately I learned this during the process so I opted for a 2 year loan with option for a 1 year extension. 

So, I want to target select properties that fit my criteria, then contact the owners.  

I think it's important to select your marketing channels, don't spread yourself too thin, and stay focused on what you decide to do.For example, I started with DMM. 

Also, we were aware motorized watercraft was a HUGE liability (looked into this extensively!)