I've been looking for 4 months now across the country, including in Midwestern markets I would have never dreamed to consider before and would be -very- lucky to break the 10% ROI (cash on cash, without speculative equity growth). 12-15% seems like a pipe dream in this market.

Thus, I'd like to use a professional.)Last fall, I sought bids for snow removal (shoveling/blowing walkways - no plowing) and to those that bothered to respond, I got ridiculous prices back ($150-$225 per trip; it takes an hour total to shovel all the properties, including travel time between).This spring, I am seeking lawn maintenance bids and I am experiencing the same thing; outrageous (in my opinion) prices for the work involved.  

The appraisal came back at $375,000, which doesn't include a unfinished third floor that has three bedrooms and full size bath (I plan on making that portion into a third apartment).  

The appraisal came back at $375,000, which doesn't include a unfinished third floor that has three bedrooms and full size bath (I plan on making that portion into a third apartment).

I gathered all my notes in a 50+ pages document touching on formation and maintenance of LLC and business structures, transferring assets, protection strategies, trusts, anonymity, insurance, levels of protection, etc. including when you should do it, how many properties per LLC, due on sale clause, selecting an attorney, fees, checklists and resource materials.

My sister is included in the LLC.

The pages below do not discuss additional forms investors may want to include such as; disclosures, agreements after closing, personal property agreements, MLO paperwork, transfer documents, trust agreements, buyer/seller repair contracts, lien paperwork, closing checklists, addendums, seller brochures, power of attorneys, or additional title work needed, etc.AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming(The links above take you off this site.)Hope you find this info useful and helpful.

Bought the property 41k cash, no loan, closing included.2.

It makes the whole process easier and less stressful when I have my exit strategy set.If you have to season the property before the refinance loan just make sure the interest only payments are included as part of the Holding costs in your calculations.  

The returns are low but more than $0 with idle cash.If the market does not turn, or it turns less than $20, or takes many years to turn, returns can be okay to excellent.It's hard to invest into a hot market, model assumptions that include a correction, get excited about a 6-12% IRR and pull the trigger...many hold cash instead at a 0% return.