If not just compose one based on your observations and hope that the former tenant accedes to it, some will, some won't.I used to have a room-by-room checklist which noted some of the following:Condition of walls and paintCondition of carpetCondition of doors and doorknobsCondition of ceilingCondition of light fixture and the bulb worksCondition of toilet, sink and tub in bathsCondition of stove, oven sink, garbage disposal and dishwasher in kitchenCondition of grass and shrubs.On the move out version I had a list of amounts that I was deducting, including but not limited to:Missing door stop (the move in one showed that there was one for EVERY door) $5.00Hole in wall from doorknob going through it (somehow in my 60 years on earth I've never destroyed a door stop or knocked a doorknob through a wall, but it's not hard to tenants) $75.Pooper scooping the yard $5.00 per pile.

think of it on a larger scale.motorola - for example - if they refinance their corp headquarters to draw out capital for a project or just to boost up their cash accessibility, or for whatever reason - they're tapping into one of their many assets, converting equity into cash by taking out a loan (liability) in order to somehow grow their business.the corporation does this - not any one individual.

Any creative ways to get around this limitation?

Since recent development in Amarillo has been limited to commercial and single family housing, it is unlikely that there is enough local experience to be progressive enough to really see the big picture.Absolutely for a beginner investor, be safe, search markets with less emerging competition.

noobdog - I just filed the trade name at my local town hall so it was legal for me to call myself that.If I'm an LLC all I really do is limit my liabilty.

Answer the phone, forward calls and give information contained only on the listing agreement as limited by the broker;2.

I know that I want to buy and hold, I want to rent out a duplex/fourplex, (flipping seems like a bad idea right now for a newbie) :crying: but my options are limited due to not having any money to start.

the thing is im in college and i dont have a car on campus so my ability to get around is very limited

As far as limiting the numbers of rentals, the mortgage companies have a guideline as to the numbers of rentals permitted beyond which they will not give loans, or better loans, to new buyers.

However, I will be liable to the Seller to perform on our contract agreement to make his payments and pay off that loan eventually, but my liability is to Seller, not his bank.The Seller deeds the property over to me.