I've leased many times so know what to say to tenants - the pet discussion was thorough and often - we even delayed signing the lease as i was told by Mr tenant that his wife may want to buy a yorki-poo - (I was ok with it at the beginning but my policy is a higher deposit and I meet the dog) he finally tells me during our leasing process he does not want a dog and is deadly afraid of them and they will NOT have a dog in the house.The PM i'm partnering with in my business goes over today to do a property inspection - they hid the pitbull but the Yorkie-poo was found in the downstairs bathroom with a kennel and pee pads (meaning it's not potty trained) - I despise these little dogs as they will piss all over the carpet and since they're so little the tenants wont care or find the mess and clean it up. 

We will have liability up to 1M on the property.My questions stem from loan/Asset Protection.If we were sued, and for the sake of this discussion we are sued and lose $2m, would we only lose our $1m (insurance proceeds) and 20% capital (assuming we have to sell the property). 

Hey everyone,i'm just getting started in REI and i'm about to obtain my first SFR.

I am trying to obtain legal control of the property with mother in law and wife.

I'm trying to find an online service to obtain my Texas state ID #, in order to open a bank account for my LLC, here in Texas.

Let me know if you ever want to meet up for coffee to discuss real estate over 

I believe the topic of finding private people for investing or partnering has been discussed many times, so I'd do some more searches on BP.  

I'll round the numbers for the purpose of this discussion but basically we paid $440k for the property and have a planned reno budget of $100k.

If I do not desire the tenant or he does not want the increased rent I look for a new tenant for the rehabbed unit.  6) I move into the not rehabbed unit and start rehabbing it.  7) when I am done rehabbing it I refinance it pulling out hopefully all of my invested money (using contractors I usually get my down and part of my rehab cost but if you are doing much of the work yourself I think you may be able to get out all of your invested money 8) Use all that knowledge you have obtained to do it again with less mistakes trying for that homerun investment (I think most experienced So Cal RE investors have the Homerun deal: the type of deal you can potentially retire on).Here is also something you may not know: Commercial RE loans (5+ units) are more based on the numbers of the property than the numbers of the investor. 

I met with prospective managers from my current employer to discuss transfers and such.