It's amazing how many landlords do foolish things like this.

Your risk is your ability to judge ARV accurately ahead of time.If you're going to buy and hold for appreciation, I think Florida is a bad short term play but given how hard areas have been hit, in 30 years prices are bound to have gone up.If you're looking to be a landlord, cash flow calculations are pretty easy.

My husband and I are going to try our hand at landlording.

For the Landlord Addition it's $15/month for up to 25 units or $30/month for up to 50.

Sept. 20, 2002)(stating that formation of LLC to avoid personal liability is perfectly legal, and refusing to pierce veil of LLC landlord and hold members liable for overcharge because corporate status or nature of the business organization must be used to perpetrate fraud, and LLC status of landlord was irrelevant to tenant’s payment of rent).Collins v.

After the lease was signed, I emailed them the lease for the reference and have asked them to send me an email acknowledging the receipt of the lease.At one of the local REIAs meeting this week, we have a real estate attorney coming who will be discussing the general land lording issues and I will ask the attorney at the meeting what are the pros and cons of having a lease signed on an iPad.I will keep BP updated with what the attorney says.

Update: We sold house #2 to a landlord looking for rental property and both of us were pleased with the deal.

Here's was my Pre-Purchase Checklist when I first started:Upon Contract AcceptanceEnsure Access to Property: * Make Copy of Property Key(s) * Purchase New Lockbox * Place Key(s) in Lockbox and Install at Property (hidden)If Certified Funds are Required for EM: * Get Certified Funds for EM from Bank * Submit Certified Funds to AgentIf Financing the Purchase: * Send Contract to Loan Officer * Provide Loan Officer Property Info * Connect Loan Officer with RE Agent Info * Have Loan Officer Schedule Appraisal * Make sure Loan Officer Knows Anticipated Closing DateDue DiligenceInspections: * Turn On Utilities for Inspection (water, gas, electric) * Schedule Termite Inspection * Schedule Property Inspection * Attend Inspection and Take Notes for “Scope of Work” * Get Final Inspection Report and Review for “Scope of Work” * Get Termite Letter/Pest Inspection ReportContractor Prep: * Create Scope of Work * Create Materials List * Determine Which Contractors Are Needed: * GC * HVAC * Roofer * Electrician * Plumber * Pest/Termite Control * Painter * Landscaper * Carpenter * Schedule GC Walk-Through(s) * Get Contractor QuotesPurchase Decision: * Perform Final Financial Analysis Using Estimates/Quotes * Perform Both Flip and Rental Analysis * Make Go/No-Go Decision on PurchaseUpon Contingency FinalizationFinal Purchase Prep: * Get Closing Date from Lender/Agent * Arrange Landlord Insurance Policy * If Financing, Connect Insurance Agent with Loan Officer * Follow-Up on Appraisal with Lender * Choose a General Contractor * Choose Sub-Contractors (if no GC) * Determine Exit Strategy * Create Rehab Schedule (if no GC) * Create Final BudgetPrior to ClosingFinal Loan and Closing Prep: * Obtain and Review HUD-1 * Obtain and Review GFE (if financing) * Ensure Loan is Ready for Closing (if financing) * Get Certified Funds for Closing * Determine How to Hold Title * Get Partnership Agreement Documents Signed (if partnering)Upon ClosingDay of Closing: * Get Keys * Change Property Tax Records to Home Address * Get GC and Sub Contracts/Docs Signed * Arrange GC and Sub Start Dates

I currently live in a duplex property and the landlord wants to sell.

Manager, Former Landlord etc; but I put Homeowner right now because that is my current status.