It was losing almost $2000 at the time but we had a plan (and no kids or big house/fancy cars) to hold us back so with my wife's support, I took the plunge.  

Robert Zimmerman Thank you very much for the info and the support!

Supports of having a LLC will only argue there is a psychological security value to having one.

The tenants your trying to contact doesn't sound like they fall in that pool, it's the tenant that say's I understand, I'm sorry, I've worked and found some support and can now figure out how to pay and stay, Will you work with me or is it to late to consider a settlement payment arrangement

An attorney will be able to advise the best type of legal structure to support what you want to do.You want everything to be done in writing and by an attorney, because in spite of what some people think something written on the back of an envelop isn't always going to stand up in court if their is legal president or law making something illegal and as a non lawyer you would have no way of knowing that. 2) You own the property, they carry the mortgage and note that is filed, just like with a bank.

We focus not only on our business, but also push each other to make healthy choices and workout.

I would love to hear some stories and experiences from individuals who have decided to pursue this either as an alternative career, or simply supportive to their already existing financial situation.

I agree if you cant provide supporting docs you don't deserve a high price offer and the property could go higher if he had documents but without them the highest I could honestly see paying is $170k

Thank you everyone, for your ongoing support!!

Keller Williams is supportive of full and part time agents.