@Mel Hayes A large part of the selection process for approving census tracts was a lower median income in the area in question.

The contract falls through and we get an extension of contract or the seller gets the earnest money.The alternative to that is they sell the property they have been neglecting and live happily ever after.Now please please explain how this is a scam.

Just make sure the one you select is familiar with the intricacies of owning real estate.For bookkeeping, I'm just using Stessa.com since our portfolio is still manageable. 

With s/t rentals, the work may not be too extensive up front, but it is a very demanding business as you either do all the work yourself: filling out the units, cleaning, maintenance, etc. or hire a team to do it all for you, which will of course leave a lower bottom line for you, but it is the only way to scale. 

@Bhanu Kuna  Who did you wind up selecting as your PM?

My dad and I are partnered in our LLC and we are both drawn to properties needing extensive repair, which this one definitely did.

The driveway is so small that I considered it to be part of an extension of the garage.

I think Walz will get another extension since we don’t have large groups able to gather yet.

So, select your partners wisely.

I will be doing extensive renovations (knew this before I closed), and worked with a designer to complete construction drawings.