(This would be a good time to consult yours, by the way.)

If you don't have a landlord attorney, try Alan Segal in Needham, you can probably get a consultation from him by phone and get a better idea of what you need to do to protect yourself.

You may want to consult with an accountant asap to determine if BK will help you in this situation.

I highly recommend consulting both an attorney and a competent accountant.

Not an attorney and you need to consult with one.

I hired a PM early on, and basically, his responsibilities are as follows:- Look at houses that I might be interested in- Put together basic rehab estimates (something I can start with when putting together a budget)- Get bids and negotiate with contractors- Manage contractors on a day-to-day basis- Manage schedule, budget and quality for all work done- Put together material lists and order materials- Be around for deliveries- Get houses ready for showings- Deal with inspectors/appraisers- Deal with alarms when they go off- Anything else that may come up on a day-to-day basisOccasionally, if things are slow, I'll hire him out to other investors to manage their projects, consult for them, etc.

Consult an experienced business lawyer for more information.

I suppose I need to sit down with a real estate consultant and review my portfolio and determine my options moving forward.

DavidHere are my two cents on the structure as I have consulted with many capital investors who have wanted to make investments such as this.

Once you pass the 35k threshold, they mandate that you get a 203k consultant.