I would be cutting it pretty close.

Nearly most of the newbies, close to the 90 percentile took bad deals and either had it foreclosed on or lost tens of thousands of dollars.

In return he will place the down payment, closing costs and IO payments during the HML.If the property is initially purchased by one LLC (Ours) and there is an active loan on the property, is it possible to register half of the property under the name of the investor's LLC as part of our model?

Closing costs, including recording fees, transfer taxes and HOA transfer fees, if any5. 

I do land acq. and construction loans everyday so if you have any q's when you get close to breaking-ground, let me know! 

. - You've got some pretty solid information above and concurrence that it shouldn't cost nearly as much as you thought, but on a separate note, I'd like to understand your situation a bit better.You are currently just looking for a Chicago property to purchase and asking the quit claim question in preparation for closing? 

A sawmill is closing down in Montana because its workers can’t live anywhere near.  

Good luck  I cant see why anyone would want to try to wholesale in these markets one its illegal without a RE license in CA just read the regs.. second you do all this work and nothing closes because you cant get deals good enough..

Quote from @Feroz Penangwala: Hi everyone, I’m curious—how many of you are actively closing real estate deals right now?

Unless you have cash backing of your own to buy and a solid commercial buyer's list, these deals are unlikely to close.