We buy strictly properties that are 80 units or higher, and in general 100 units or more as they offer economies of scale (personal lesson learned)...and better marketing, better ON SITE staff, and more importantly the DSCR and Break Even Occupancies that allow me to sleep at night.

It's more difficult to run a hotel that won't support a good salary for a full time GM and supporting staff.

We have a fellow investor that rents a duplex to a pastor who always has a hard time coming up with the rent on time & cries about how its too high & will not do the lawns or snow.We had a SFH rented to an executive of a local company.

Notice that Rick correctly wrote "executor," not "executer."

Matt,If you plan to execute a 1031 exchange, I would recommend you hire a reputable Qualified Intermediary (QI) to handle your 1031 exchange appropriately.

Sometimes you give these characters more credit than they deserve when you think they are executing some scheme to outwit potential buyers.

LLCs, entities, business plans, marketing plans, executive summaries, websites, etc, etc, etc, are NOT NECESSARY in order to make money in this biz.

As long as you stick with an experienced and reputable provider (that have ERISA, corporate, and tax attorneys on staff, such as the four I listed previously), and follow their clearly delineated guidelines for avoiding prohibited transactions and running the 401k in a nondiscriminatory manner, then I don't view this as a risky technique whatsoever.Again, I tallked to all four providers that I cited, and all indicate that in those instances where their client plans have been audited (talking about actual audits, not generic letter of determination), that the IRS has taken no adverse actions against their clients, insofar as those clients followed the clear rules.

They took on the current office staff and maintenance people too.

If you have an executed contract they cant circumvent your deal.