Once the city announced their plan to build a water treatment plant in the area I knew it was time to get moving.

The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error.

LLC's are pass through entities unless you elect special tax treatment. 

Without going into too much detail, this is simply a reminder to look at the tax treatment of the income as well.

All trial an error, man, but batchskiptracing, skipgenie, REIskip. 

For investments in US real estate, US legal counsel often recommend the use of disregarded limited liability corporations (LLCs), which offer both legal liability protection and flowthrough treatment for US tax purposes.

Lastly, having experience in this entire space, the piecemeal approach is more hands-on, you have a higher likely hood of incurring construction over runs "unforeseen" - lets face it most contractors are a tough breed of people to work with, so timelines are not always certain.Anyhow, yes, it can exist, but it requires a ton more work, your time, more room for error, and the pure time cost of money is substantially greater.Just a thought, much luck, great question!

Inevitably, they will make friends with some residents, and enemies of others, both of which lead to problems such as Fair Housing violations when the friends get preferential treatment for repairs and rule violations; supplies and materials disappearing both on and off site; unauthorized repairs allowed or performed by the manager at your expense in time and materials; time that should be spent on your expected tasks that is spent visiting or "helping" their friends; buying extra materials that never make it to the property; taking advantage of residents charging them for "extra" tasks or "collecting" rent; the list goes on.

I'd let them know what you will/won't do for pest control (quarterly or semi-annual treatment, but no in between sprayings, etc) and what they are welcome to do at their own expense (monthly sprayings, bi-weekly sprayings, etc).

In a few days I got response from the tenant that she just discovered a serious medical issue, is on the way to the airport to start treatment in her native country, will be back in about 6 weeks to pack and move out.