I have let some time lapse since the seller backed out and I’m concerned it will negatively affect my case.

For example - if your first property rents for $1000 and the PITI is $900 you have negative long term cash flow.

If your strategy is different, then below will not work.I invest in apartment buildings where I can "force the appreciation" or add substantial value by increasing rents, decreasing expenses or preferably both.The problem for investing for the long term and focusing ONLY on cashflow is that the investor's money is stuck in the project a long time.And of course, the problem for investing for appreciation is that it's speculative.Since I only buy buildings I can add value to, the market is IRRELEVANT.

Failure to do so may just negate the protection you are looking for.You should have title in the LLC's name, mortgage docs in the LLC's name, rent going to the LLC, etc.If you can't get it done properly for the time being, get the extra insurance coverage.Make sure to talk to an attorney to see if your actions are giving you the asset protection you are looking for.

I realize one of the responses was negative but that is ok as well, There is always a good and a bad side to investing and I like to see both sides of whatever I invest in.Thank you all for these Replies.

In searching them on BP I've seen old posts with some negativity about "why not just put your best offer forward up front".

Negative credit history including bankruptcies or repossessions is unacceptable.Applicant is preferred to have a minimum of one-year verifiable rental history.

@Lucas Carl also - I was looking at other factors bedsides just pure revenue - which I only have one year of (she owned only 1.5 years).

Someone else on here may have dealt with them directly and can provide direct experience or you could save someone else from a negative experience.

When re reading your post i see what you mean about the landlord being somewhat negligent here however that doesn’t negate the fact this person has been a tenant for 13 years and alive on earth for 70 years .