The last time I looked it was about 5% margin....

What may work is to buy a house that needs some work, then do minor renos while you are living in it and when it is time to move, turn it into a rental....but run the numbers to see if it makes sense.

Quote from @John Underwood: You should definitely have a CPA to advise you and professionally do your taxes.Yep, not a time to ask the forum.

This is part of the problem with horrendous advice out there and widespread paranoia over LLCs.

When problems arise (and they will) take your time to solve them.That's if you're dead set on starting right away.

This gap is expected to widen over time, reaching $251 vs. $133 by 2028.Competitive Inventory, Employment, AbsorptionThe Los Angeles hotel market comprises a diverse mix of brands, with Marriott (44.5%) and Hilton (28.2%) dominating market share.

@Tyler SteinkeI’m having a real hard time getting past the $100 / month profit on a $510,000 investment!  

So, whatever the strategy, I would make a goal to get to at least 4-5 rentals within a reasonable amount of time ESPECIALLY if it would be a hardship to handle a bad tenant situation. 3.

Thanks, so it sounds like the steps to send the seller are:1) Letter of Intent (LOI)2) Earnest deposit based on a 21-days inspection & financial contingencies3) Coordinate time with the seller to have an inspection & general contractor (GC) walkthrough4) Calculate the amount of repairs/fixes required to see if it makes sense5) Ask the seller for lease docs (estoppels) in addition to rent rolls, maintenance, and all expenses6) See if the bank approves the purchase7) Purchase, send the tenants a document that says I'm the new owner, and start rehabDoes that sound right?

They will also have to take time out of their schedule to attend mediation hearings, etc.