also, remember that if the property is vacant for 90 days you need a vacant property license from the city.

@Joseph GarnerI told them my business plan on an ideal property I was looking at, how I was going to manage/exit the deal and where my downpayment was coming from which was via private money.

Good luck--remember, an accommodation is mostly less expensive than a vacancy.

When it comes to establishing a partnership and creating liability protection I can lay out a "functional" option that works and an "ideal" option that often costs more, but also provides more security.Functionally you can use the current LLC and have an attorney draft up an operational agreement that lines up the desired roles of the partners and how they get paid out.

Personally, I wouldn't even start looking for deals until this was lined up because when you are up against a lot of excellent cash buyers and you are interested in getting deals with equity, you need to have the ability to move quickly and decisively---be the buyer that is remembered and the deals will come :) 

Remember, you pay for the appraisal but the lender is the one who chooses the company they work with.

I'd also love to get your thoughts on what cities/town would be ideal for a vacation/rental property and for a high return.

But try not to think that one should be attempted over the other.And also remember, as I’m sure you would consider doing with real estate, when the market “drops” that’s a perfect opportunity to buy depending on your investment strategy.Hope that provides a little insight.Charles

I mean most places charge $200 just to show up then the rate on top.Take the disposal out and just pipe it normal.I remember my landlord replacing mine often in college.  

If I remember right, he was investing less than $10,000 into a mobile and would make at least $40,000 when he sold it.