Great call to action for those who are passionate and have a definite purpose.

We only lend to entities because we only lend on commercial properties for business purposes, even for single family residential properties, but the criteria for qualifying for one of our loans is much easier (incredibly easier) than going through any bank; especially a portfolio lender.Although, if you qualify for the bank financing, it is, without a doubt, cheaper.

This is not legal advice and for general informational purposes only.

I was really concerned about managing my own property in the beginning because the last PMC (DASA) really put me off even contacting my tenants - I believe it was done purposely and purely so their pockets could be lined with my cash. 

Ironically, people kept offering me jobs while I was trying to be "free" so about 6 months ago I accepted a full-time role at a company I LOVE doing a job that I really enjoy - it is 100% remote and my salary almost equals when I was busting my behind in cube hell.  

One person that I know bought a brand new house for the purpose of holding as a rental unit and had a good experience. 

Properties acquired with the express purpose of being investment properties are in an LLC.

Chris,I am guessing by "Old Style Radiators" you mean the upright, silver cast iron steam or gravity hot water ones.You can box the old style radiators to update the look.

I've never had the pleasure of working with a CPA for tax related purposes so I would really appreciate your insight! 

@Jonathan ThompsonAnother item to keep in mind is that all of your self employment income from all sources can be aggregated for purposes of contributing to the Solo 401k.Here is an except from an article written by Calcpa.orgWhen a self-employed individual maintains more than one trade or business, the questionarises as to whether the limit is based on the sum of earned income or loss from all trades orbusinesses under common control [as defined in IRC 414( c)) as modified by IRC 415(h)], or ifonly the trade or business maintaining the plan being tested is used.For purposes of the IRC 415limit, earned income for the self-employed individual is based on the sum of the earned incomefrom all the controlled trades or businesses, regardless of whether the related employer maintainsa qualified plan [Reg. 1.415-2(d)(6)].EXAMPLE: Andy, a sole proprietor, operates a law practice as a sole proprietorand has $100,000 of self-employment income from such practice for 2008 (prior tothe reduction for one-half of self-employment tax).