Robert LaBrie , I thought it had changed but couldn't remember off the top of my head while watching tv, thanks for the correction.Kris Haskins , appraisal guidelines are getting a lot tougher.

disclaimer: I'm not an attorney, and I don't play one on TV.

Disclaimer: I am not an electrician and do not play one on TV.

Since you're in the learning phase & your long term goal is to own several properties then start reading up on Series LLCs (unique to Illinois & other states) along w/ Land Trusts.  

They owe more than it's worth. 100% of borrowers that purchase on credit and don't pay it off within 30 days are underwater when they bought that TV for $1,000 at 29% interest.

I see on TV all the time where there's a house that the hosts found but it's going to auction in just a couple hours and so they have to run and find the house and decide if they want to bid on it.

This is no different than what one receives when terminating their TV cable service, utilities, or health club membership: it’s called the final bill.

I believe the terminology is called a "Series LLC"

Tell him straight up,"You can be my partner or you can be my competition,decide".Life is a competition,win or go home and watch tv.

You may even want to do a series LLC or multiple LLCs so you can keep the rental business outside of the flipping business.