Listing 169,900Offer Price 150kClosing cost 150030 yr Loan interest rate 4.0 Monthly P&I 716.12Rent 1250Expensesvacancy (10%) 125CapEx (5%) 62.50Reapairs (5%) 62.50Prop Man (8%) 100Insurance 50HOA 40Taxes 100NOI 8520CASH FLOW -6.12Cash on cash -4.90%Purchase cap rate 5.68%Pro Forma cap rate 5.62

Form a REIT Delaware Trust Inc.3.

You can also form a Canadian group and pool money to invest here.

However he has a hard time managing all the properties and giving me the information on the properties that I need to form a deal. 

I imagine we both agree that it is leveling the playing field, bringing in the investors to look into a deal more and smarter guys who pick up the little nuances on pro formas that make the difference between an investor walking away with what he expected to earn, or ends up taking a loss. 

You do not need the 8832 form as that to be used when you want a different classification from what the IRS considers your entity structure to be.In addition, the entity structure that you choose should be based on your real estate strategy.

Also what formas of advertising are you using to get some of the sellers calling you.

But I might give it serious consideration if the offer had a pretty realistic pro-forma (expected) P&L attached that showed me the buyer knew what he was doing and was not a babe in the woods.At that price range I doubt the seller really expects a complete noob to come up with the money.

That being said, I typically use pro forma estimates over the period of my horizon (say 10 years) and then divide it to a monthly budget.

I'm learning a lot and re-reading this post made me think that one hopes there is some sort of reference material for how to form a HOA out there.Does anybody know where developers / new homeowners go to form boards and draw up the articles?