Originally posted by @Johan Hultman:Originally posted by @Julie N.

I don’t want to throw money away for just the same ole stuff.

Some of his comments did leave us with questions that conflicted our research:He said that the operating agreement didn't' matter since it was going to be just my wife and I in the LLC and that we could use any ole "boiler plate" operating agreement template we found on the internet.

But not just any ole postcard, sent to a group from a second hand list. 

The remaining $250k is subject to regular ole rental real estate rules and there is no limit of mortgage interest.

I suggest getting a big ole umbrella policy if you are concerned with liability. 

@Tom Gimer  good ole boy wink wink has gone away in Oregon as well... not that the Doj per say did anything just too many players chasing the same deals.the day I decided to take our 10 million out of the foreclose bizz and turn it into HML was this:opening bid 80k  home worth 170k  rehab 30k  32 qualifiers with opening bid checks thats 2.4 million in cashiers checks chasing one deal that ultimately sold with maybe a 10k margin...

Credit cards, student loans, plain ole vanilla mortgages, etc. because they have somehow managed to mess all of these up at one time or another.

lots of rabbit holes out there and what I call due diligence pump and dump scammers.. prey on mid level developers who have never gotten one of these loans.the borrower falls for the 5 to 20k up front fee to perform so called due diligence and the so called lender never closes.I have seen colleagues of mine blow through 100k looking for CHEAP money when they should have just under stood this kind of money in the Private equity world goes out at 10 to 15% apr period unless you have a local bank that will do it like I do. but even then its one project at a time and uber cautious.. they don't want to go back to the bad ole days were they ended up owning pipe farms.. and they generally will only do these with who they determine are their top tier clients.. you cannot in our market be unknown to the bank.. unless your have that monster balance sheet.but in my mind Socal is ground zero for this kind of money.. 

When I helped develop an internal software system for a financial institution we tested all of our loan calculations against TValue and a good ole HP12C.