Our start wasn’t easy, fell into our first rental – it was a failure…however the learning experience helped get us to where we are today.

I'll throw out 3 fairly easy and FREE optionsOption 1:  Directionally you can use Zillow, Redfin, etc. 

Is it easy to rent?

I thought an easy turn-key rental was a safe first purchase, and Bossier City where I bought isn't an expensive market and has Barksdale Air Force Base, strong growth and new tech jobs moving in.

As you have planned, as you start accumulating more and more equity, it would be a good idea to get an LLC and properly manage the LLC to get the desired protection.

Another relatively easy way to know for sure is to have an appraisal done.

Hi BP'ers,I'm in contract to purchase a property in the Easy Bay and I'm working with several partners on the deal that are contributing capital.

Paying a qualified attorney to get this setup properly would likely wipe out all of your profit from your first rental.

Not saying it's not possible, but this is likely the hangup. buying cash and then cash-out refi is easy and done all day, even with commercial loans, but likely all will want you to carry some liability in some form (skin in the game) that said, I'm just one lender I can't speak for all of them

It can be your first stop and last stop of the day.RECORD KEEPING: Always make sure you keep minutes of the incorporation meeting (decide on business entity and set up by-laws), shareholders meetings at least annually and give proper notices.