Calculate your bottom line using 70% of ARV (After Repair Value).Do not spend more than (.7*ARV)-RC (Repair Costs)Example: House is appraised at $100,000 *if repairs are made*...7*100k = 70k.Repair costs are expected to be $25k. 70k-25k = $45,000 (DO NOT BUY THE HOUSE IF IT IS OVER $45k)Take another look at the ‘going rate’ of rent in your area, make sure your cash flow is enough to cover ALL costs and include a buffer for taxes and unexpected repairs.Look at the property yourself - try to eliminate assumptions.Have a trusted professional assess and confirm info about repairs that may have been overlooked.Look at how much work you can do on your own and compare it with contractor rates to complete all repairs.

Sorry to confuse you but, bottom line is, LLCs are not tax saving vehicle, they are for asset protection. 

My income fluctuates do to my freelance work.I have an amazing credit score 799I tried to get a line of credit and got rejected from my bank.I now have an offer to refinance and get cash out for a total of $375K loan at 4.5% for 30 years (That gives me a bit more then $175K out)My plan was to keep my mortgage as is rent my place out to cover it and get a new multi unit to live in and rent.

There is only a 2 week period properties are empty to allow for turnover repairs & cleaning.

A investor that has a bottom line and crosses that line is not a good investor.

You can have a plumber air test the plumbing lines to find broken or missing pieces but I would plan on more than a $600 bill.Good LuckDerek Dombeck

The guy with the sweet ride and is clean cut, is going to cost to much per hour for what we all want to do when we are trying to build equity.

I purchased a home about 6 months ago, and I split the gas lines and added a second boiler.

Contractors sometimes have a lot more on the line, one bad project can put a contractor out of business and ruin years of relationships built to have a solid team.

I was thinking of either selling it or taking a line of credit on it to buy more properties and still rent it out without any cash flow but I will still have the property.