They can be all dangerous and some often carry legal risk.

It’s a numbers game and a leverage game.For example, you could split that $45k into two (properly analyzed) deals, leveraged with smart financing, and then refinance after rehab, cash out your equity, cash flow the properties, and carry on with more deals using the equity you extracted.

Tonight I mailed them a letter informing them that if it wasn’t all gone by September 30th I would be disposing of it.

The whole idea of an LLC is to prevent future damages.The doctor said I could smoke cigarettes because most people don't get cancer from it.99% of the people asking about LLCs in the forums here do not need and can not form an LLC to carry a property in because they are using residential loans and don't have an LLC with 2 years of tax returns.

So everyone will send the same letter to the same people, they all get turned off and only Andrew profits.  

Quote from @Elias Halvorson: You probably can still do an DSCR, with a letter of explanation on the lates if you wanted something now, otherwise you can wait 5-7 months until those lates are no longer in the past 12 months and do a conventional loan  with better terms.  

Ivana, there's a TON to unpack here and I'm happy to carry on the convo via DM or a call.You're not crazy.

For example DSCR, no ratio, CPA letter, P&L Statement, average bank deposits, 1% down for primaries? 

I realize that once someone creates a letter of intent they can start on the due diligence phase to learn the financials, physical, and legal but what else can I learn about a property before making an offer? 

Hi all,I have a single family home I purchased in June 2021 for 200k.Aside from cleaning up the yard, painting, and new water heater there have been no improvements.I recently got a letter that my taxes are going up as they believe the property to be worth 225k as of June 2022.