If both public sewer and water are available are available, the minimum lot area is 20,000.The property is bordered by a main road (with manhole covers every X number of feet)and a McMansion development.

Craftman style, decent neighborhood, needed significant work and great houses around it.Upon further inspection, it was partially worked on inside, some new sheetrock and paint, but it didnt look like anyone had been there in a bit.Knocked on the neighbor's door and after some chatting, got the owner's number.Long story short: meeting the owner this week for a formal tour, talk numbers, take my mentor and then maybe my first wholesale deal!

Long story short, it was a harder sell then thought as they were spoiled by the ST returns, and the regulation elephant made it too much to do without formalizing as a hedge.

Be certain to list yourself as in the employ of each, make a title, and a salary even if it is $100.00 monthly, something of formality.

Our group even has a formal mentoring group.

Less formalities with an LLC (don't need to hold annual BoD meetings, etc.) - Not a big deal at all - although if you don't follow these formalities, someone could pierce the corporate veil3.

I do see adding a bit of legitimacy with an owner or buyer in getting a third party involved, it appears to be "more formal" "legal" maybe more "trusting", but that simply goes to the lack of professionalism in gaining the confidence your parties may have in doing what you're doing.

This is a nuance to be sure, but a legal formality that allows you checkbook control.

Since the mother and adult son are not on the lease and the husband abandoned the property, I am wondering if I need to go through the formal eviction process.

We requested a formal rebuttal, but the appraisal management company said, by law, they can take up to 30 days to respond.