@Anthony Dupre For out-of-state real estate investments, consider creating subsidiary LLCs in each property’s state for liability isolation, owned by a parent LLC in a state like Wyoming or Delaware for anonymity and strong asset protection.

@James De Stefano I would like to keep those properties ideally but need the funds for this next purchase in San Diego. 

The second you have to study is: Dolph De Roos – Real Estate Investors College.

Hi all, I own a lot outright ($190k) at the Delaware beaches.

:Sorry about the delayed response @Wendell De Guzman.

With regard to the fees that is much less expensive than a Delaware Statutory Trust where fees can be upwards of 20% which is totally unacceptable unless you have absolutely no other options. 

Do you know how to claim various safe harbors (de minimis, small taxpayer, etc).

I am in the Philadelphia / PA / DE / NJ area but for the purposes of sharing experiences, anywhere is great. 

If I were to flip it though, I would update each unit (kitchen, bathroom, flooring and paint).My opinion is to get it under contract for cash and assign it to someone that invests down in that area of Delaware County, Pennsylvania.The owner of the property seems motivated to downsize so I'm likely to be able to negotiate him down - he's asking $200,000 for this property.

Bill Maxted, a researcher at De Montfort University said, “There are more lenders in the market and there is a real competition, with interest rates margins falling and loan to value ratios rising, there are some quite aggressive terms being offering by debt funds in particular.”