This team should include a realtor and/or birddog (to help you locate properties and watch for solid deals), an appraiser (who can help you know the ARV of a property and can tell you what it is really worth now), several mortgage brokers (to ensure you get the best loan possible when needed), a good inspector who will help you to know whether the problems with the property are serious or not, but who won’t kill your deal when the bank looks at your inspection, a good contractor, a good real estate attorney and accountant, and most importantly (in my opinion), good advisors or mentors.

I tend to lean towards the conservative; I advise my investor buyers of duplexes/triplexes/fourplexes to use the same value decisions/calculations prescribed to by commercial lenders (DSCR, NOI, etc.) to ensure that there is ample cash flow in the property.

reg=cny&app=descriptorVery Favorable> Accountants: $54,880 (Annual openings:80)> Automotive Service Technicians and Mechanics: $29,970 (AO:70)> Bartenders: $14,840 (AO:110)> Bookkeeping, Accounting, and Auditing Clerks: $30,460 (AO:110)> Bus Drivers, School: $29,660 - (AO:70)> Carpenters: $37,480 - (AO:80)> Cashiers: $15,230 - (AO:500)> Child Care Workers: $17,310 (AO:140)> Serving Workers, Including Fast Food: $14,710 (AO:240)> Construction Managers: $93,730 (AO:30)> Cooks, Fast Food: $14,590 (AO:60)> Cooks, Restaurant: $21,590 (AO:50)> Food Concession, and Coffee Shop: $14,580 (AO:120)> Customer Service Representatives: $29,170 (AO:120)> Dishwashers: $14,560 (AO:60)> Electricians: $53,100 (AO:50)> Elementary School Teachers, Except Special Education: $48,400 (AO:130)> Executive Secretaries and Administrative Assistants: $35,410 (AO:130)> First-Line Supervisors/Managers of Food Preparation and Serving Workers: $22,450 (AO:90)> First-Line Supervisors/Managers of Office and Administrative Support Workers: $42,560 (AO:90)> Food Preparation Workers: $15,550 (AO:180)> General and Operations Managers: $89,750 (AO:70)> Home Health Aides: $21,750 (AO:100)> Janitors and Cleaners, Except Maids and Housekeeping Cleaners: $20,930 (AO:250)> Laborers and Freight, Stock, and Material Movers: $22,120 (AO:150)> Lawyers: $82,740 (AO:50)> Licensed Practical and Licensed Vocational Nurses: $32,050 (AO:60)> Maintenance and Repair Workers, General: $31,990 (AO:100)> Nursing Aides, Orderlies, and Attendants: $22,090 (AO:80)> Office Clerks, General: $22,950 (AO:170)> Receptionists and Information Clerks: $22,780 (AO:130)> Registered Nurses: $49,510 (AO:250)> Retail Salespersons: $18,010 (AO:510)> Sales Representatives: $50,830 (AO:170)> Secondary School Teachers: $51,940 (AO:130)> Secretaries: $26,530 (AO:120)> Security Guards: $20,960 (AO:110)> Stock Clerks and Order Fillers: $19,490 (AO:150)> Teacher Assistants: $19,780 (AO:250)> Truck Drivers, Light or Delivery Services: $25,630 (AO:70)Least Favorable> Architectural and Civil Drafters: $39,380 (AO:under 10)> Chemical Technicians: $28,450 (AO:10)> Coating, Painting, and Spraying Machine Setters, Operators, and Tenders: $27,630 (AO:10)> Computer Operators: $31,320 (AO:10)> Court, Municipal, and License Clerks: $34,350 (AO:10)> Crossing Guards: $17,050 (AO:10)> Dispatchers, Except Police, Fire, and Ambulance: $29,990 (AO:10)> Electronics Engineers, Except Computer: $73,650 (AO:10)> Engineers, All Other: $66,780 (AO:under 10)> Forging Machine Setters: $34,240 (AO:under 10)> Human Resources Managers, All Other: $76,460 (AO:under 10)> Insurance Underwriters: $52,720 (AO:10)> Judges, Magistrate Judges, and Magistrates: $114,850 (AO:under 10)> Maintenance Workers, Machinery: $40,540 (AO:10)> Occupational Health and Safety Specialists: $55,440 (AO:under 10)> Telemarketers: $17,800 (AO:10)> Travel Agents: $32,430 (AO:under 10)Crime (Division of Criminal Justice Services)http://www.criminaljustice.state.ny.us/crimnet/ojsa/indexcrimes/county_totals.htm===================================================================================Onondago county 2000 vs 2005Index Crime: down 15%Violent Crime: down 2%Murder: down 10%Rape: up 35%Robbery: up 20%Agg Assualt: down 13%Property Crime: down 17%Burglary: down 7%Larceny: down 23%MV theft: up 9%Tax Rates====================================http://www.ongov.net/Realproptax/taxrates.htmlCounty Purposes: $13.705600City Purposes: $7.189600School Purposes: $16.928500County Water Purposes: $0.077600Total City Rate: $37.901300Destiny USA=========================================http://en.wikipedia.org/wiki/DestiNY_USAPlans, which currently include over 4.5 million square feet (400,000 m²), consist of 13,000 hotel rooms, an indoor aquarium, an indoor recreation of the Erie Canal, a stadium and performing arts center, three golf courses, a 100 acre (400,000 m²) glass-enclosed indoor park, and a 20 acre (80,000 m²) artificial lake.

As the option is not given until the lease is finished, and held in escrow depending on specific conditions being met, eviction on the lease is probably ensured for non payment.Brian

I don't typically close without obtaining a title policy to ensure I'm receiving title free and clear of any and all liens.

In the case of an extreme emergency where they need to vacate the property, do so to ensure the safety of themselves and family members and leave me a message of a text and I will contact them once I wake up ..all my properties are local

Negligence or wrongful conduct can pierce the corporate veil, so even if you own this property in an LLC or corporation, if a judge or jury determines that you were negligent by ensuring that an illegal conversion was not brought up to code, you could personally be on the hook, and all your personal assets could be put at risk.For me, I'm not willing to put my entire net worth at risk just to avoid a few inspections and some contractor cost.I'm not an attorney, so that's not legal advice...I would recommend you talk to an attorney before proceeding in the direction Rich suggested...

This also ensures that everyone is on the same page.You will only learn how to word things by either messing up, or learning from those that have already been there.Keep asking questions, your learning NEVER ends!

Through the REI group we were able to meet some agents that were willing to run comps for us and provide some assistance ensuring we understood the details of those results.

Welcome to the forums @David Urena-Amaro, you are in the right place to ensure your success long-term through real estate investing.Denver is a fantastic place to invest (especially with it being in your own backyard) We have had amazing appreciation these last few years, so it is more challenging to cash now than before.