Just make sure it isn’t signed and that the tenants are aware that you are not offering them the tenancy and it is solely for their review.

Never heard of a single sole ever say an LLC protected them in a lawsuit when they had umbrella insurance.

Ideally, you want to not solely rely on monthly rents, and while property appreciation isn’t an “expense” it is a way you can see the deal on a higher level, and look past the numbers you can immediately see.

Three things that would concern me if I were in your shoes.1-$30,000  would almost re hab another property in bad condition.2- Make sure the inspector does a really good job.3-Have owner or seller give you a one year warranty on property.

I have been the sole owner of a business for the past six years and have been able to consistently generate an income of $60k+ per year, and that number has been continuing to grow, thanks to the addition of taking on new subcontractors working for the company.

@Eric Weldon-SchillingThis post seems like it should be on Facebook you probably won’t get much empathy here from landlords.Personally I wouldn’t want to go to court if I were in your shoes.

I've done several flips, but I've been the sole person in the process. 

This information is solely to show you that the BRRRR method really does work. 

Reach out and touch everyone you can, Agents, owners, sellers, buyers and other investors do not solely rely on MLS and Zillow to find what you are looking for. 

Our goal is to be financially independent in 10-15 years & solely work on our properties.