For the purpose of this conversation, would you make a distinction between someone who is otherwise-involved in the industry (e.g.

What are the dangers for the broker by allowing me to do so.  

They attract children and are potentially dangerous.

It definitely Challenges baby boomer golden calf concepts, and I agree with many of the premisesHowever, it is a dangerous book, especially for young investors, because most of us were not born rich, and it creates the wrong mindset toward workPeavey

The distinction is that (in many cases) an LLC with have a manager that will  oversee the day-to-day operations of the LLC but does not have a financial interest (not an owner).

I have a background in Interior Design that did not become my profession but taught me just enough to be dangerous as they say. :-) Phil has been in the construction industry his whole life, primarily single family homes and has recently transitioned into multi-unit residential developments.

Anything that constitutes a major inconvenience to the tenant, such that a reasonable court would find one negligent for not addressing quickly, constitutes an urgent maintenance need.Example of the former: leaking water, gas, exposed live electrical wires, smoking in electrical panel, dangerous leaning tree, etc.Example of the latter: poor heat performance of heating system; clogged gutters overflowing causing basement dampness; etc. 

At this stage you have a transit hub with parking, commercial, maybe a few nice restaurants and bars, and the residential side become very attractive.I have see this happen in the UK as separate distinct phases that were unrelated.

Given that most Heloc's are interest only for the first 5-10 years if you are in danger of defaulting then you should not be flipping in the first place.

The danger is when you found a property but do not have it tied up with a purchase agreement.