In your scenario @Michael Fanoni, you are/were NOT a contractor, you are simply a broker of tradesperson, someone that knows someone who does the trade, and then simply performed an Unlicensed Activity, you were not in any shape or form a contractor. 

In my area, local banks are hungry for small apartment deals and they'll be happy to work with you if you have a decent deal.I'm a bit late to this but if you take a pro forma of the 6 unit to a lender I'm sure they'd give you a pre-approval letter.I've also never been asked for that though unless the seller was a large bank/ government agency.

Yes, if you don't have someone that can tell you how to form a corporation, you might need to hire one that does.  

Do you see using the state approved offer form as a problem? 

Any direct or indirect transaction between his IRA and such a disqualified party would result in a self-dealing prohibited transaction for his IRA with severe tax consequences.Your father's IRA could be used to form a new real estate development business using a Rollover as Business Startup program.  

If one looked only at the principal law from which to form a legal opinion, the person or entity operating under that opinion could face action, fines, and penalties under other sets of law.

Never had any major issues as a result, just factor it into your calculations/pro-forma to analyze for the added expense appropriately.As for what that expense is, it's all market specific of course.  

Actually, it's not that meaningful in reality and it is a short term indicator, not a good long range assumption for pro-forma analysis.Then, what is a good IRR?

This is from the DHCR report as of 11/11/14Note: Apartment 2L which was Rent Stabilized is now one of the 3 Free Market units according to the pro forma.

I recommend finding one specializing in the area and type of property(ies) that you're interested in and form a relationship with him/her.