If you are purchasing something that is extremely  high value, consult with an attorney and get the proper entity for your specific use. 

- Guest Insurance – Do you require guests to carry their own insurance, or do you use a service like Safely, Proper Insurance, or another option to cover damages?

Of course our big motivation is commission but you can get commission or a referral fee or something in an off market transaction if done properly.

Structuring the deal properly (like through a land trust) can reduce this risk.Your best bet is to connect with an Illinois investor who has successfully done sub-to deals or find a local real estate attorney who specializes in creative finance.

For money judgments, in particular, it’s often worth consulting with an attorney to make sure everything is handled properly and legally—especially when you’re operating remotely.Best of luck with the process, and definitely reach out to the Facebook group for some additional insights!

The key is vetting your lender properly—asking the right questions, understanding the terms, and ensuring the numbers make sense for your strategy. 

Quote from @Frank Floresnk Flores: Hi Helena, id recommend reaching out to@Wale LawalHe specialized in working with out of state investors and will be able to properly guide you. 

Understanding the terms, qualifications, and overall structure is crucial—after all, a loan is a loan, and knowing how to leverage it properly makes all the difference.As for Zillow, IMO, one should never use it for ARV.

BTW: most owners that have hired a PMC, don't want to speak with you, much less meet with you in person to hear a hyped-up sales pitch.Also, you want to do rental arbitrage - so, you will need to be properly licensed to manage properties you do not own as required by your state & local laws.- why would an owner want to do business with someone NOT properly licensed?

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.