Great to hear your experiences specifically with NetWorth..

Do you need some specific help (e.g. writing leases, closing, zoning, etc.)?  

Without knowing the future and what the specifics of the loss there is no way to assess if the $500,000 will be enough. 

These are only the first few things that jump to mind; definitely consult a broker in your area who's experienced in navigating this very specific asset class.

If you have an LLC, fees are here : https://www.cyberdriveillinois.com/news/2017/decem....For taxes, it is possible to get a small deduction from the LLC's return via a pass through deduction but the tax law around this is complex and situation specific.

Specifics are:- 4200 SQFT - 3 stories with a rooftop deck- Elevator- 5 Bedrooms- 5 Full baths, 2 Half baths- Requires 30 FT Pilings- Block construction- Impact windows- Retail price point of $2.5MM+We are in the process of obtaining GC bids and are looking at experienced contractors with solid track records.

(Examples: <50% equity, ownership of 10+ years, absentee owners, out of state, expired listing)I would love to hear what specific metrics you have used and your experience with them!

That's a great way to get into the business.A few tips that may be helpful to you here on the Bigger Pockets website as you build your portfolio:You can set up keyword alerts so anytime someone posts about Layton (or the specific neighborhoods you're exploring), you'll be notified.

Both will probably help you as you jump into real estate.A few tips that may be helpful to you here on the Bigger Pockets website as you start building your portfolio:You can set up keyword alerts so anytime someone posts about Jacksonville (or the specific neighborhoods you're exploring), you'll be notified.

LOL its lender specific because FANNIE is only guidlines, each bank can be MORE strict.