So I currently am holding a single rental property and am planning on financing 2-3 more in the near future.

First, if something goes wrong at one of his other properties, a judgment creditor can attach the judgment to your property because your partner is holding the property (or his portion of it) through his LLC.

Details:Price: $65,000Cash available for down payment: up to $20,000Zoning: ResidentialPlans: hold it with plans to potentially build on it within the next 5 years.Additional info: lot is currently located between two duplexes.Any advice would be greatly appreciated.

Either way, I would be looking to have the rent at least cover the mortgage payments, allowing me to save up for my next buy and hold (of course after paying for taxes/insurance/ repairs etc.)

It's not "free" to sell a home, it's not just the realtor fees but getting a home "sale ready" is often different than "rent ready" and that doesn't even include potential for vacancy expenses and holding costs during the sales process.  

Goal: Hold for 5-7 years then trade up.

I am interested in learning about single and multi family properties with flipping or buy and hold strategies.

At some point we are going to begin doing more Buy & Hold plays on deals like this but in the interim we're gonna Let 'Er Flip...

Hi -  We are under contract on our first buy and hold that we have been able to find that has decent numbers...Would appreciate any reaction or input anyone has to this deal...good/bad/bad assumptions etc.Location - 63rd and Halsted (very close to the new whole foods developmentProperty - Grey stone with 2 units (3 bed/1 bath) unfinished basement with laundy and 2 car garage.  

I'd like to build a buy and hold portfolio in this city.