Focus and knowledge of history and accurate determination of the furture are even more critical in a resort area.I was one of the founding partners of a large ski resort in Colorado, now known as Sol Vista.

I think each one really needs to be considered on a case by case basis.It's a tough nut to crack, but I think this is an area where everyone needs to think critically.

Yes, personally visit the office to make sure they confirm the critical information.Second, never bring up the outstanding taxes again if you really want to buy this property at a good price.

My sole intention with running the numbers in the BP public eye is to put myself on the block for criticism, and critique.

(Needless to say, this is not-for-profit and so there is no membership fees...just the cost of lunch and gas).For example, I volunteer to help anyone who is interested in wholesaling houses and buying apartment buildings.With so many Chicagoans joining BP, I think this meetup group will have enough critical mass to be of valuable help to its members.Thoughts?

Hopefully my grammar is good, please don't be critical if it doesn't make sense.

No they arent really, and the appraisal is critical to all deals, single family to multi-family.Typically you wont get credit for the rents that are coming in on the new purchase to be counted to offset your debt ratio unless you can prove a 2 year history of managing rentals on your tax return, so you will have to be within debt ratio guidelines without counting that income.

I hate to be critical, please don't be angry.

However, the construction of the entire deal is critical to success - not just going in, but you must consider the holding period and the exit.

It is worth enduring a little upfront criticism for being overly cautious and getting your own lawyer to discuss this with rather then the long term consequences of winging it.