They give a basic cover sheet run down noting anything they think is out of the ordinary then the attorney reviews it and decides if it is good to go or what may be needed to clear the title.

Originally posted by @Jay Hinrichs:@Lew Payne  [various follow-up questions]Exactly - Investments bought and sold through my IRA are not subject to capital gains or ordinary income tax.  

Purchase: $160,0003 bed, 1.5 bath in Fontana, Southern California1110 sq ft condoTwo Story Unit, patio gated with parking entry, new cabinets with granite counter tops, new stainless steel appliances, new paint, laminated wood flooring, new carpet, new bathroom vanity and toilets, new shower tub, new blinds.

Just curious what is typically used to estimate what ordinary maintenance/repair costs to get a good judgement of NOI to help determine deal analysis.Thank you,Nick

Also, the bank will not pay more than an ordinary amount of RE commission.

The patio may need redone in the back yard.

There are usually better rates and terms available for investor financing via an ordinary mortgage broker.  

Profits from short-term flips will be taxed similar to ordinary income, so you might be giving a good size chunk of the profits to Uncle Sam each year.

Ripped out an old aluminum awning & enclosure on the back patio.  

Almost $20,000 in lawyer fees and 2+ years of litigation later, we're foreclosing on the house in order to collect our court fees from him.After that, we adopted a very simple rule... we pull permits for goddamn everything, no matter how simple, no matter how ordinary.