You retain some portion of that to maintain your working capital, and distribute the rest to your investor.You will certainly give up a big chunk of the potential profits to your investors.

Either you're going to be very busy managing and maintaining that many units or you're going to have to hire help.

You want to pay hundreds of $ to form an LLC and hundreds of $ more to maintain the LLC to hold title to your property just so you won't have capital gains taxes withheld from the sale proceeds when you sell the property -- capital gains taxes that you will have to pay anyway when you file your tax returns?

Most county clerks maintain a website with property records that are often available to the public online for free.

Assuming 70%, there is only $28/unit/month left for a payment.If you were to get expenses under control, which largely means billing the tenants for utilities, while maintaining the current rents, it would be worth about $630K.

I'm sure it's only a matter of DAYS until I get the letter from the HOA about failure to maintain the yard....then what?

Do I need to pay those taxes in order to maintain the first position in a tax deed sale?

The LOI was FIVE pages long and a bunch of blank spaces like "buyer must maintain same financial net worth during loan and have X amount in liquid assets at all times.

If the person is a good tenant overall, keeping the apartment clean and maintained, I would try to find out what exactly is the problem.

Laminate flooring is cheap and easy to maintain.