I've got a few great mentors, one a bank president, who I can always bounce ideas off of.

Meaning it doesn't exist separately unless you elect for it to be treated separately.An LLC can be taxed as an S-corp, C-corp, sole proprietorship, partnership, association, etc.I would not worry about incorporation yet because Illinois is expensive to do so in.

You come in and say to the CEO/President (who by the way knows your name...) - I NEED HELP or this thing is going up in flames.

Some people I know will take the course for knowledge but not become licensed.Ti find a broker connect with the president of 2 different REIA clubs in the area, they will point you to brokers.Paul

As the property is $70k underwater, if the bank did elect to call the loan due, there is no way you could refinance it.

There are 10 Hotspots...http://www.inman.com/reports/global-buyers There is an association you need to check out for resources...Asian Real Estate Association of AmericaFounded in 2003, the Asian Real Estate Association of America (AREAA) is a nonprofit professional trade organization dedicated to promoting sustainable homeownership ...areaa.orgWhile here check out 3 different local REI club meetings, connect in advance with the President and vendors listed to get going.Go to a couple of landlord association meetings, look for distressed owners.Remember you are here to build your team, realtors, attorney, inspector, property manager, bird dogs.Follow below to get a better head start on the REIA meetings.Paul

I live in one and was actually the president for a couple years.

I see wholesaling as one of the elections on their Direction of Investment Form.

Yet, all of our completely incompetent politicians on both sides of the isle will try to crater the economy and shut down the government rather than risk losing an election.

I spoke to the president of short sale commander today and they are switching to realty commander.