I would start by talking to a lender who deals with construction loans.

you probably know this but - there are holding costs associated with most flips - interest on the loan, insurance, and sometimes others depending on the localityhope this helps 

I'm in the same boat, I've been happily using Stessa for a couple years and recently I'm having connection problems and they're not connecting with mortgage companies that are buying out my loans.

If the WY LLC gets a loan there is a security instrument (deed of trust or mortgage) that needs to be signed and recorded. 

Hi , Can anyone drop some recommendations for Hard money lenders that will do a minimum loan of $50kThanks

First, I would never try and provide tax advice to a seller, it will get you sued, especially to a 100 year old person.Regarding seller finance, since the amount is spread out over long term, they should check with their CPA on how they are or are not taxed on the gains as well as interest on the loan.

I've always gotten a signed "authorization to release loan info" from the owner on record. 

@Dan Dares TMYou can use your familyMember but they will need to be a part of the deal and the bank will most likely want them to personally guarantee the loan.

Patience can be your best friend and if you attempt to over leverage a property it can come back to hurt you.Some will recommend buying subject 2 where you could take over an existing mortgage that could be at a substantially lower rate - but if the lender finds out and calls the loan that could also be very bad.

If you buy primary you only exclude $750k loan interest if you itemize deductions instead of taking standard.