Then I used a company to create a Checkbook Control IRA LLC which allows me to pay the contractors directly instead of using the IRA custodian to cut checks.

NJ has its own set of major issues, for example tenant for life, 5 year COs, some cities have rent control....

We also have no land transfer tax, or rent control, which is a big advantage in multifamily (5+ units), as you can improve the property, raise rents to market value with only 3 months notice, and suddenly the building is worth exponentially more.

Hey @Megan Deppe, I have a Samsung Smarthings hub controlling Z-Wave thermostat (Emerson Sensi) and a Schlage Smart Connect lock.

A trust offers more in terms of control or specific wishes for the next generation but isn’t always necessary.

I wanted to pursue the seller financing that way I can take control of the title and make payments, and if I needed to sell, or refinance I have that option.

One major draw bck to look out for is the HOA associated with it, as well as special assessments that you have no control over that can kill your cash flow. 

You already know the answer... suppose you have a client that lost their W2 job, and is newly self employed.

I'm thinking since she's read SFL, she's already sold on taking control of her finances, and maybe Brandon's book is next?  

@Raymond SantosNumbers seem a bit too conservativeI don't know the conditions of the property, but if I was running the numbers, I would use the following:Monthly:Revenue = $2,550Expenses:Mortgage: $1,347 (300k at 3.5%)Insurance: 150 (1,800 a year)Maintenance: 200 (should cover lawnmowing, pest control, hvac, and a few other things)CapEx: 200 (this one is a wildcard, but 200 is very conservative from my experience)PM: 250Vacancy: 107 (half a month a year)Total Expenses: $2,254You net $250 a month.