COUNTRYWIDE In my geographic area is doing a program STILL that is not setting ownership limits.

probably create llc or corp to buy property to limit liabilities to your business and for tax considerations.

If you have enough properties (or a large enough single property) to make good use of employees, I feel it is the smartest way to operate...as long as you A) LIMIT the types of work (to minimize injury risk...a worker's comp experience mod increase can put you out of business); B) pay what is necessary to attract a WELL qualified employee (NOT your typical "handyman"); C) are an efficient project manager, or are willing to delegate that task to the employee...and generally support his decisions/timelines.If you try to micromanage...you will have turnover, which will be more costly than hiring a contractor.

I understand it is somewhat limiting, but it seems to me that paying off the house you have, buying another, paying it off, buying another etc. is the safest way to go.

But the right to a one-time rollover from IRA to HSA (with limitations) is very interesting as a way to get some funds started.

Note that the FDIC didn't pay the full amounts for depositors who were over the protection limits.

.`(6) MAXIMUM LOAN AMOUNT- The principal obligation amount of the eligible mortgage to be insured shall not exceed 132 percent of the dollar amount limitation in effect for 2007 under section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) for a property of the applicable size.`(7) PROHIBITION ON SECOND LIENS- A mortgagor may not grant a new second lien on the mortgaged property during the first 5 years of the term of the mortgage insured under this section.`(8) APPRAISALS- Any appraisal conducted in connection with a mortgage insured under this section shall--`(A) be based on the current value of the property;`(B) be conducted in accordance with title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3331 et seq.)

You're gonna get your bet advice on a question like this at your local landlord meeting.

I was familiar with separating liability, but wasn't sure if $200K was a specific number to use as limiting equity.

I am trying to pick a property, with the hope of fixing it up a bit, then selling the property shortly afterwards for a profit.What type of unit would you recommend a new investor with limited handyman ability get involved in for his first attempt at Buying and Flipping ???