However, people don't follow this and will rent out or move to an LLC after closing, your decision.

To learn creative financing, you'll want to get involved with your local REIAs, listen to podcasts, follow people who are educators on creative financing, etc. 

Texas folks please as I need to follow TX laws.Thank you.JF

Sorry for the following Contrarian advice, but you're not a 5 year old so:The only reason to buy a personal residence (Home) is because someone is forcing you to.Usually, this person is called your Spouse (which is Latin for someone who forces you to make horrible financial decisions then criticizes you for them endlessly:)perhaps DON'T buy a home, just rent something affordable and invest the 20% or in your case 50% into the stock market (sp500 16.1% yearly return last 15 years, 11% last 50 years, 10% last 125 years)remember, your RENT is your maximum monthly housing expense, but your Mortgage is your minimum or starting monthly housing cost, it always goes up from thereI've, owned 2 personal homes, 100% appreciation in 6years on #1 and in 7 years on #2, (I timed our market perfectly both times), with 20% down and very low mortgage rates, but after honestly calculating all expenses, only made about 5-6% a year "investment wise".

Sending follow-ups every 4–6 weeks can keep you top of mind when the owner is ready to sell.

.: Does he have a 'method' and a legion of cult like followers who refer themselves as a creature often used to make boots, wallets and belts? 

If you want this reflected in your financial statements, here is our process: We move the COGS to inventory on the last day of the year and back to COGS on the first of the following year.

The principal sum, plus all accrued interest, as defined above, shall be paid to the Holder upon as set forth herein.Payment & Due Date: The Maker shall not be obligated to make any payments ofprinciple during the term of this loan until January 4, 2024 ('Due Date"), at which time the entire principal balance, plus all accrued and unpaid interest, and other charges, if any, shall be immediately due and payable in a lump sum balloon payment to Holder.Collateral: This Promissory Note shall be secured by a mortgage lien against thefollowing real property: Address listed; (the "Property"), executed by Maker for the benefit of Holder.Assignment: This note is NOT assignable by Maker without the written consentof the Holder, which shall not be unreasonably withheld.Default: The occurrence of any of the following shall constitute an "Event ofDefault':Failure to make any payment due hereunder;Nonpayment of principal upon the Due Date;The breach or failure to perform any of the terms, provisions, conditions,promises or agreements in the Note, that is not cured within five (5) days ofthe date of written notice from Holder;Any representation or warranty made or deemed made by or on behalf ofMaker to Holder under or in connection with this Note shall be materiallyfalse on the date as of which made;

@Brad Herb Investing in a syndication via a Self-Directed IRA (SDIRA) offers tax advantages but comes with fees and limitations:Advantages:Tax Benefits: Gains grow tax-deferred (Traditional SDIRA) or tax-free (Roth SDIRA).Avoid Penalties: Keeps funds in the IRA, avoiding early withdrawal penalties.Diversification: Adds real estate syndications to your retirement portfolio.Disadvantages:Fees: Setup, custodian, and administrative fees can reduce returns.UBIT: If the syndication uses debt, income may be subject to Unrelated Business Income Tax (UBIT).Complexity: Strict rules; all income/expenses must flow through the SDIRA.Illiquidity: Syndications are long-term, locking up funds.Use an SDIRA if the investment is significant and the UBIT impact is minimal, especially with a Roth SDIRA for tax-free growth.Remember that RE, outside of retirement accounts, provides the biggest tax benefits.This post does not create a CPA-Client relationship.

Quote from @Hector Espinosa: Hi All,I would like to hear your comments about the following property, which I think, based on the analysis I made, seems to a be a potential good investment:* Purchase Price: $98,000* Monthly Cash Flow: $310* Annual Cash Flow: $3731* CoC ROI: 15.86%* 5-year annualized return: 15.35% (with a profit if sold of $25K)Also, what are some of the disadvantages of buying old houses?