To meet the 1% rule you'll need to be below $100k and in C neighborhoods. 

The debt against the properties are not in dispute.N******** was authorized to transfer the properties as a single manager without the signature of the co-manager, John C.

Originally posted by Scott Matthew C.

S put it....If my $1.4m were to drop back to $680k, most of your C tenants would have been out of a job and live at your apt for free, because the economy is just that bad!!!

@Erin C. surround yourself with people who are willing to let you learn if you prove that you won't waste their time.

I own a triplex in a C+ neighborhood.

The asking price is $230K and the property would require very little rehab as all of the units have been upgraded within the past 2 years (new kitchens, bathrooms, paint and A/C units).

So P/L at 50/50, C at 60/40 on the K-1, with balanace of your loan liability coming from your capital portion.Unless you are a licensed contractor, all work is permitted (permits 'pulled') and trades outsourced to licensed professionals.

Clint, are you saying that any business entity : LLC, partnership, C- Corp, S Corp must register with WI Dept. of Financial Institutions to rent out real estate in WI?

The area that I am renting in are c-d neighborhoods and I can pickup a unit and have it ready to rent for about $35000.