Research comparable properties in the area to gauge pricing, rental rates, vacancy rates, and demand.Property Insurance: Obtain quotes for property insurance to understand the potential costs and coverage options.Survey: Consider getting a property survey to confirm boundaries, easements, and encroachments.Due Diligence Contingencies: Include due diligence contingencies in your purchase agreement to allow time for inspections, assessments, and resolution of any issues uncovered during the process.Risk Assessment: Identify and assess potential risks associated with the property, such as market volatility, tenant turnover, maintenance costs, or regulatory changes.Exit Strategy: Develop a contingency plan or exit strategy in case the investment doesn't meet your expectations or unforeseen circumstances arise.By thoroughly conducting due diligence, you can minimize risks and make an informed decision about purchasing the property.

I always tell buyers DO NOT BUY if you're not ready, but if you are ready, waiting can cost you. 

Keep using your 2/5 primary no tax up to $250,000 and your basic rent offset cost for the investment.2.  

Estimated closing cost is $7776.80 on a $75k washout refi. 

Let’s say you sell for $672 and net say $620k after selling costs?

Cost was like 30% less than the next cheapest ones. 

(Effectively doubling the taxes.)

Step 3 - no surprise, the renovation costs more and takes longer than expected.

Just my opinion but one residential property per LLC is an overkill in my mind and just ends up costing a lot more money down the road in administrative / accounting fees. 

when your dealing with a borrower with experience...its not wise to control the Construction, Its not smart to smudge HUD's (i took myself, title and attorney days to figure out my closing cost went from 25k to 40k)...later to find out most of it was in fees and paying 12 months in advance of mortgage payments.