When she moves out of the apartment make sure you have a formal letter closing out that lease showing the transfer of the deposit and any deductions for repairs.

Or formal marketing?

For pre-foreclosure, I would draft a formal letter and mail it to the owner.

The APR is on your Truth in Lending Disclosure, which you may need to specifically ask for if the inquiry is general and not formal in nature.

You have to observe corporate formalities with minutes etc on all major transactions you do.

It may be 6 months before a borrower may face foreclosure with the notices and delays now afforded, forget the ease of foreclosure in non-judicial states for now.The debt to income ratio of 43% does not apply in certain mortgages and your attorney had better be an ex-regulator or underwriter to understand the scope of prudent lending as it is not spelled out in statutes, certainly not taught in law school.

I would ensure you get a formal partner agreement that spells out roles/responsibilities, timing, taxes (capital gains), cash flow, etc.

I think I've been signed up for a while and searched questions here and there, but I wanted to formally introduce myself in an effort to better connect with everyone online and offline.

I have roughly 5 years of formal work experience with different aspects of default real estate, although most of it is with paralegal style work, as I was at a default-based law firm and now am working at a bank in different servicing aspects of foreclosure (residential).Investing in default properties has always interested me, so I may begin there, but I'm here at BP to learn as much as possible to make my first deal a successful one.

So you do suggest that after the property is formally purchased to turn the vesting over to my own company, albeit unformed prior to the actual acquisition?