This is also why people who put properties in a LLC and self manage think they are good - well if you as the pm do something you are the pm so you get sued so you end up liable…

In my opinion, it is the BEST strategy for first timers - you get the buying experience, the property management experience, and you get to start building equity right away (especially if you live in Denver).

I've done everything from wholesaling to property management, and I'm always excited to connect with fellow investors.

If it becomes too much for you, hire a professional property manager (there are different types of property managers).I hope that helps!

Only, their rent is extremely low because they used to do construction work for the previous owner in exchange for a lower rent.

Please reach out with any questions regarding bridge, fix and flip, ground up construction or DSCR loans .

I showed them the whole business model and spreadsheet...We ordered the Feasibility study and appraisalThen they gave me a Term Letter that states everything even construction cost analysis by their 3rd partyThats where we are atwe have a GAP of $2.7MWe came up with the strategy last night.. that at the very least we need $1.5M cash to pay a balloon payment by June 27 or it forecloses... the lord will not let that happen.So I have the green light from the Lord to talk to all the interested investors as He is opening up the doors of Favor

Assuming you are managing the property well and taking care of maintenance issues, there really is no benefit to either you or your resident from the inspection.  

That means that they have a separate dept to handle ordering the appraisals directly and they don't farm that out to an AMC (appraisal management company).

Tutorials  emphasize the need to do due diligence on all the following:--check for taxes and liens against the property--find out which taxes and liens, if any, will remain attached to the property--make sure it is a buildable lot--to do above, you need to establish how the lot is classified for code purposes, and access the lot specifications, minimums the lot must meet for construction to be allowed--you further need to find out what its sewage situation is because 1) municipalities have different lot minimum specification for lots with public sewage and lots with septic; and 2) if the lot will require the construction of a septic tank, you need to take that into account in your decision.