I am at my wits end with what to do on this to avoid losing everything on the deal.

Just have a few questions before we get to deep into the process:What are some common mistakes that can easily be avoided?

Avoid C-Corps, as they incur double taxation.Use LLCs for rentals and consider an S-Corp election for flips if income justifies the additional complexity.This post does not create a CPA-Client relationship.

How to avoid large loses in passive investments?

Companies choosing new locations look for these key factors:Metro population over 1 Million: Companies require access to a large, skilled workforce and established infrastructure.Low Crime Rates: High crime deters both businesses and residents.Low Operating Costs: Companies prefer locations with lower taxes and fewer regulations to maintain competitiveness.Low Risk of Natural Disasters: Companies avoid areas prone to natural disasters that can disrupt operations.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Hi Evan from Sayville, NY-You asked about whether a lender would pay real estate commissions and closing costs with a short sale.I negotiated a lot of short sales after the Great Financial Crisis.Short sales are similar to dealing with a bank owned property accept the bank is trying to avoid taking it back so the terms, specifically an acceptable purchase price, have to be negotiated.The thing I found that was important to negotiate was the lender agreeing to settle without further recourse for the seller.

When considering creative financing, it’s crucial to fully understand the terms and risks of partnerships, seller financing, or using HELOCs to avoid overleveraging.

To avoid Prohibited Transactions, SDIRA investments really need to be passive.Oh, I'll also mention that SDIRAs are subject to UBIT tax.  

A refinance into an LLC avoids this risk but typically requires a commercial loan with higher rates and stricter terms.If asset protection is the main goal, umbrella insurance may suffice without disrupting financing.