A couple weeks later, I signed the contracts.

The wholesaler agreed to take my offer verbally but never returned the signed paperwork and ended up taking a much higher offer. 

It is subject to probate court confirmation but the auction house says that that is just a formality, there's no real sign off and what it goes for is what it goes for.

Personally, I wouldn't buy it unless I already had a church willing to sign a lease before I close.

Your contract terms should include novation/assignment language to your anticipated LLC as the title holding entity, hence Scott's advice above - once the LOI is accepted but before the PSA is signed (although you may not actually form the LLC until later).

Marie Tai Thanks for linking that site, I just signed up!

It helps if you've already done business with them.A more common way to get this done would be to find two partners and the three of you each put in $125k in equity.Also, you don't mention if the property needs rehab but one thing to keep in mind, my experience is that your capital required to complete a large deal is not equal to the amount of the down payment.Even if the property is in pristine condition, you need more money for third-party reports, professional fees and working capital.

And I hate the washer and dryer being in the kitchen, I definitely wouldn't mention it in the listing.I know in that area its common to fill in the garage, I suppose its the thing to do by investors with flips, but its not something I particularly care for.The bathroom does look a little bland and builders grade. 

Closed on 7/20/2018- Repeat On our way to buying an undervalued 7 unit (waiting for amended contracted to be signed by seller as of Friday) All of this was funded by a HELOC on my primary residence.

Loftium signs a lease directly with you so you get higher rent payments guaranteed every month without the work of managing an Airbnb.