Legal and Regulatory Steps:Establish an Association: You'll need to create a condominium association and draft the necessary declaration and bylaws (condo docs).City Approval: Obtain the necessary approvals from the local government or zoning board.

So in our previous example: $500k purchase, $225k assumable mortgage..the lender might allow the qualified buyer to take over the $225k put $100k down in cash and obtain a second loan for $175k from another lender.

HI David..Someone in your office will need to obtain their NMLS Mortgage brokerage license but we have a complete system for RE professionals like Agents, Tax Professionals, Attorneys and Builders that enable you to be involved and compensated without the full responsibility of processing loans (which is not fun!)

Use the value add to obtain sweat equity.  

As for your Question #2 above: Yes, obtain an attorney (well versed in real estate contract-law).

With so little inventory and bid wars , and hundreds of showings of each property to some fake buyer who never intends to buy house, I don't think Erics in this game are in any particular disadvantage compared to "licensed" REAs (licensed is in quotation marks,  since a lot of people seem to put too much significance into obtaining it, as if it was a law degree from Ivy League school).

Once you have a few rehab projects under your belt, you can obtain 100% if the deal is very good. 

I've seen some pretty healthy asking prices for land where all entitlements were obtained & approved.Also, I do understand that there's a cost paid to the geotech, architect & city prior to approvals.But...

Last year, I bought a church and a parsonage. I subdivided, sold the parsonage, and the proceeds paid for the church. I want to convert the church into a house, which will cost about 100k. I am not looking to take equ...

I obtained my pre licensing course on the ceshop.com website.She needs the prelicensing course and passed exam before she can take the state exam.Hope this helps!