The paperwork and processing can be a burden, and its best to get your information correct the first time to fund the deal properly.I am here to advise and serve, so no worries on whatever you ask.

That is the logical next step and I will keep you posted.Cash flow situation will depend entirely on getting a handle on expenses. seems to be a lot of maintenance and a property manager that is getting paid $30k plus rent.Getting rid of the utility rebill, property manager, and getting ahold on maintenance will be essential.

The right and legal paperwork here for my State of Michigan.

Essentially as you pointed out, if you aren't selling in the next 2 - 5 years, it quickly becomes a no brainer.

You would need to send in paperwork where you are allowed to talk about their case.Then you can call the case worker to discuss further.

You need an actual pre-approval where a lender has reviewed all your paperwork and given you an approval letter.I'm not familiar with Austin, so I don't know what you can buy there.

One small slip in paperwork can require you to start all over again, and in MA that's a killer.

If you are an agent, you'll know how to deal with the paperwork and the back and forth that will occur if you go with an FHA buyer.

With this being my first time, I wanted to make sure I did everything correctly, from where to get the right contracts, down to how to locate the right Title company to handle the paperwork.

I would also keep at least a 100k HELOC on the primary residence if it can be afford and invest the funds in notes or such.Each property in an LLC will require no other paperwork than an annual report.