I can imagine having a broker license adds another layer of responsibility to making sure deals are solid. 

Working with @Benjamin Carver or another good agent to help find and close on a deal will be the key. 

It is a great market but highly recommend partnering with an agent who knows the market and has experience dealing with investors as location is key. 

What made you interested in investing in this type of deal?

Is there a way I can structure the deal where even if I am unable to make payments, nothing would happen to my credit/record?

I estimate I lost probably 15k in the deal and taxes this year will tell for sure.

When you mentioned pulling out $110k, that’s the perfect snapshot of how equity can turn into future deals without selling outright.So, if you were to rinse and repeat, would you still go for another rental thta’s already turnkey, or would you look for something you could add value to?

Make sure to speak with the Title/Escrow officer directly to verify their wiring instructions to avoid being a victim of wire fraud.6. 

Replace to keep the deal alive?

How did you find this deal and how did you negotiate it?