The good the bad and the ugly. 

We have an LLC, but were told we can't get a conventional loan in the LLC's name.So, we bought a property with cash in the LLC's name (bad idea in retrospect because we can't cash out refi it and it hurt our scalability).Now, when we buy a property - it's bought with a conventional loan in one of our name's and the other parties involved transfer money into the LLC account (then into the buyer's account). 

I don't mean to sound confrontational, but Peter is clearly looking for information on how to buy his first house in a new market, and to fill his head with delusions of grandeur about 20 caps will pretty much have him spinning his wheels and never pulling the trigger on anything.Peter, there are lots of nice up-and-coming areas in Tampa (there are also some bad areas to stay out of, namely Sulphur Springs and anything around North Howard Ave by Downtown).

Like with any other industry, there are a lot of bad deals out there and folks don't want to get burnt. 

I have seen property taxes turn a good deal in to a bad deal without the purchase price or rental price changing.

I am amazed at the numbers of deals right now that are cash flow negative that get sold on bad advice.

Teesha Geyer that’s really interesting and to bad.

It’s almost impossible without learning the analyze the deals to decode the good ones from the bad ones.

Unless of course you have some amazing partnership written agreement that had took all little details in consideration and you know for sure that you getting $24,000 returned to you no matter what happens.Her RE license is not at risk because it's a business transaction with you in partnership and business goes bad sometimes. 

If you want to use a conservative strategy, paying off your principal is not a bad idea.