It's generally advisable to structure purchases like these as asset purchases instead of a purchase of the LLC.With the latter, you absorb off balance sheet liabilities, contingencies, future lawsuits stemming from events that happened before your purchase, etc.You may want to talk to with your legal counsel before pulling the trigger.

Having the house sit vacant could also expose you to other risks--for instance, if a plumbing leak begins, there won't be anybody there to spot it and take quick action, and a prolonged leak could cause serious damage. ...on the other hand, there are some advantages to having the house be vacant (less tenant-caused wear and tear, less liability stemming from the tenant's presence)...Some houses have critical safety systems that require power (for instance, sump pumps, hard-wired smoke detectors, security lighting, etc.)

That study found that more than 40 percent of costs for multifamily development stems from regulations from all levels of government.SOURCE: MULTI-HOUSING NEWS/NMHC

I think part of my lack of clarity around the rules stems from not understanding who enforces it.

If you google "condominium project questionnaire addendum" you'll see the new questions stemming from the surfside debacle.

I'm assuming cannabis will be an issue and I'll need to find a local credit union that is okay with lending to me if my tenant is cannabis.

I'm assuming cannabis will be an issue and I'll need to find a local credit union that is okay with lending to me if my tenant is cannabis.

What it means however is that i have 3 years that i can continue working on my current visa (F1 Visa with STEM OPT-for those interested ;) ) until i need to get a more permanent (and not guaranteed) work visa.

No...but I think the notion that it'll empty your pockets stems from a lack of a concrete definition.

Drilling companies laid people off, jobs were lost in oil production, fracking companies had layoffs, drill stem testing companies had layoffs, oil service companies had layoffs, mud companies had layoffs, trucking companies who moved oil rigs had layoffs, the list was long.