Both homes that I've purchases were on market deals, so I'm a bit hesitant to be the guy who calls someone up because I get those calls several times a day and I hate that using cold calls is the standard.I don't expect to be able to use the fact that I'm a local just trying to make my business work in the market it was designed for as a leverage point because it's not helping the potential sellers at all.

Of course we’ll never know how many potential suits an LLC prevented…  it’s an elucidating thread nonetheless.

Hi Batool,I saw a post you started a while back about traveling costs.You want to keep travel of your travel costs as they will likely be considered deductible or potentially start-up costsSome travel costs includeFlight, Hotel, Car Rental, Meals, mileage rateBest of luck

Black Swan- there are a lot of potential economic hits right now. 

Just something else to potentially price in.The point is, there is one step to just "remediate" the existing wire, and a different step to bring it up to code...Good luck.

However, it might also incur additional accounting and tax complexities.Non-Real Assets:Holding Company: If the non-real assets are essential to the operation of the property, holding them in the same company as the property (either operating or holding) makes sense for financial reporting purposes.Separate Entity: If these non-real assets are more independent or potentially have different risk profiles, consider holding them in a separate entity owned by the holding company.

For me, I'd try to find a market that you can find a move-in ready home with potential to appreciate and cashflow.

Saw the potential to add value to this tired property without making a significant investment in time and money How did you find this deal and how did you negotiate it?

It makes me wonder if I should pull the mortgage anyway and take the potential liability risk.

We have not yet reached our full cashflow or market value potential, and likely will not for another year (as most tenants are now in 1y leases expiring again in Dec), but we are in amazing shape with this value-add process.”For context, the ‘day one’ true net cashflow for this property was about $800/mo, and the full true net cashflow potential with market rents is just over $6,000/mo.