Any offers based on fairness, generosity or sense of duty will be turned against you.

With a little education and a fair amount of time you could have something awesome.The other route is for a “paid” version like Quickbooks.

You are not violating Fair Housing Laws, and filling the vacancy with a more qualified tenant (if you can find one) will save you countless hours of time and a significant amount of money in the long run.

Still in the early stages of conversation but got some beginning information and wanted to see if this was worth pursing:Asking Price: $550,000 (I already assumed that was too high, trying to figure out a reasonable price to offer)Income: $4000 a month (believe there is potential for rent increase (waiting on specifics of each unit))Expenses: $900 a month (Water, Garbage, Taxes, Insurance, Maintenance, Pest, & Septic) Self- ManagedNOI: $3100 a monthCap Rate: 8.72%Stable TenantsDoesn't need major workGood Area, Decent SchoolsQuestions:1) What is a fair win-win offer?

I have a potential tenant lined up that is asking for a copy of their credit report that I pulled.

Almost half of my portfolio has Section 8 tenants in it and as non section 8 people move out i try to move in more Section 8 tenants but i make sure my property manager screens them THOROUGHLY....not with just what's on paper regarding credit report, income and past criminal activity (If any).....I make sure my PM screens to make sure they have no pets, no evictions, no smoking OF ANY KIND and no felonies and we still get TONS of people calling...the biggest problem becomes picking someone from who is left.   

Evictions in Vermont can take longer than in other states and Vermont has an additional 5 protected classes on top of those protected by the fair housing act.

I'm starting to lose my patience especially when I make a fair offer on a house that the offer is supported by half a dozen comps but yet the bank won't budge but then I'll see a better property that was listed for more that sold for half the price...Maybe this is some real bad luck here I do not know.

Then work on getting some more rentals (maybe even get an asset based line of credit using this paid off property - the note itself will act as a deterrent) and build more wealth before spending time and resources on LLC.Here is another "rule" - the "2% ASSPRO or CYA rule" - the cost of setting up and maintaining your asset protection should be less than 2% of equity you are trying to protect.

This distinction if of course most important when you need to use cash out proceeds to pay down credit cards used for rehab or keep the ball rolling and re invest for more flips/investments.