We have always thought about creating additional income/wealth together, the time is now and we believe real estate investment could be the path to our goal!

In an attempt to work with the guy (since he had been there for a few years prior)  when he said he needed until the end of this month to get a place for him and his dogs (while threatening to make moving out a pain for all of us if we didn't let him hang until then) it seemed like the easiest thing would be to just have him for an additional month and then have him out after this month. 

The other option would be building an addition on our existing home, and turn the one bedroom rental into a two bedroom, perhaps making it an Airbnb rental. 

These are professionals with additional training and a stricter code of ethics.

I do recommend to use inspection, especially since I am abroad investor.In addition, the inspection report help me to make sure the contractor quote covered all major issues, and I also use the inspector to visit during the rehab to make sure the contractor finished each construction stage.Investing ~$250 in inspection in compare to the money you invest in buying and rehabbing is not major and reduce your risk.Good luck.

The property sounds like a Cape Cod style adding a bedroom upstairs and installing a heat source will definitely up the value and rental rate but is it worth the cost, a good manager will be able to advise you of that too as they are licensed in real estate and can give you an opinion of value.

In addition, the person with a disability can also file suit against you.

The other issue is that you will most likely have higher loan rates and higher down payment requirements (at least 25%) if you try to buy a property under an LLC additionally you may still have to personally guarantee it to the lender under your own name especially if the LLC is not 'seasoned' or over 2 years old.

Hello BP, looking for some perspective/opinion on which route to take with $50K cash with the goal of long term buy and hold: Pay cash for a BRRR - $50K Purchase (finance) two $100K properties - $50K down payment (in total)For simplicity, assume my numbers/deal are spot on and the cash flow in both scenarios is the same.Pros of 1 BRR – Left out the R for repeat...as I would hold on to the property - No loan, one property (with same cash flow) – slightly less maintenance as only one set of mechanicalsPros of 2 financed properties – Leverage, mortgage paydown by tenant, more potential appreciation (2 vs 1 property)Cons of 1 BRRR – less rehabbed (just rent ready) vs 2 financed TURNKEY propertiesCons of 2 financed properties – lower cash flow per door, paying additional (taxes, insurance)thoughts?  

The $35k my mentor bought bc it for a great deal, but it doesn't fit his criteria so he asked me if I want it and he would sell it to me for cost, because he wants to get into another deal; and it fits my investment style.