I agree, you can get a lot of good "intel" from the residents.

I started investing at 21 with no money, but man - it's been tough :) I am a strong believer in starting with your primary residence.

Also, at the end of the year, my situation should look something like this:One recently purchased personal residence (using up about 15-20K of the above funds)One recently converted rental with 55K mortgage renting for 750/monthOne paid and clear rental renting for 550-600/monthMy debts could (and will likely) include:Converted rental mortgage 55K at 3.75% + PMI with PI 260, TI 220/month60K in student loan debts at 4.75 to 6.8 percent about 650/month payment15K car note at 3 percent about 270/month paymentWill probably need to buy another car for my wife (cost TBD)I could sell my paid and clear rental easily for 35K.

If you are saying that you are downsizing, then you could purchase the new home as your new primary residence or as a 2nd home and then rent out your current primary residence without any risk to the lender.

For example, if you value free time, you would try to create a passive income stream of buy and hold investments that are near your work or residence.

Residency, fellowship.

Steve Babiak is our resident PA transfer tax guy, and from what I saw when he posted the tax code there, yes, anytime an interest is transferred you get to see the tax man.Yes, getting a loan in an LLC can be more difficult as it will be a commercial loan, not a secondary market type.

You still get the water bill, then charge up to 85% of the usage to the residents.

I recently got into real estate investing after completing my doctor of pharmacy residency.

Any advice for someone about to inherit in-place residents would be greatly appreciated.Thanks.Dan