The mortgage for this property is under own names due to favorable interest rates and a lower down payment.Additionally a bit of background info, before purchasing this property, we set up an LLC with a basic operating agreement.

If they are not safe or not built to code no lease language will protect you from a law suite.If you are trying to protect yourself from stupid just operate a safe business.

Hi Bobby,It all depends on what your debt load will be if you pull the Heloc.  

I had to pay closing and spent $$$ out of pocket fixing it up and made some payments out of pocket in the mean time.Bottom line you will need some money to operate a business.

Direct ownership might be better.In theory, with REITs, you're paying professionals to own, acquire, and operate real estate, so you shouldn't have to pay as much attention.

At a debt load of 50% your payments will be low enough that you can adjust rent quite a bit to keep tenants in.2.

I'm operating in the city of Los Angeles.

@Jecarl Viray register it in indy only and make sure you use a bank that operates in indy.I don't know why you were told you can only take out expenses in an LLC.

Hello everyone I was looking into purchasing a quadplex rental and after inspection finding out that the coin operated washer and dryer was connected to one of the units and one of the units was paying for it all.

I think this is a goldmine and I just need some guidance....id be willing to pay for it...i want to export an excel sheet of cash buyers, pre-foreclosures and any other types of leads that could help me....i actually almost invested in the S.M.A.R.T program but im almost positive realist is the brains of their operations.....any guidance or advice?