Just like any business, you can't operate at a loss long term.

My inbox is filled daily with deals from pretty much every wholesaler I can find operating in Memphis and these days there are a ton of them.99% of the deals on offer are in such bad areas you wouldn't drive down the street let alone own a rental there.

With the resources and network I have I can offer a virtually hands-off acquisition and get you set up with sourcing, acquisition, design, staging, and management of a short term rental here.

TD Ameritrade and Shwab will open such accounts.We have many clients just operating out of either a bank or brokerage, and some that have both types of accounts within the LLC.

I am not concerned about age of building...it's really all about location and the opportunity for value add and increase the net operating income.

And when I did my bathroom floor I used this as a guide:  .https://www.younghouselove.com/operation-stencil-the-subfloor/ .

I've never seen a compliant LO transaction come across my desk and if it's not compliant, it's a virtually risk-free transaction for the tenant / purchaser. 

Mine is under a virtual mattress in a money market. 

Welcome to BP Miami is a very expensive and competitive market it will be hard to operate with no money.

All in, we both have 75K a piece in the property.This family member decided they would prefer to cash out, and let me take over rental property operations.