Hi,There's lots of great info on this site so I thought I'd reach out and seek some advice on using creative techniques to acquire our own home.Background:We live in Atlanta but are originally from overseas (we own rentals in another country so not new to RE).

To hit that goal, I've had to expand my REI techniques; for example, I'm going to be starting my first flip on Monday.

I grew up in South Carolina in asmall town called Timmonsville.I am a college professor and the drummer in an 11-piece bandthat plays party dance music from the 60s, 70s, and 80s.My goals are to get back into the real estate game full hog and do it better this time :-).I would like to start with buy-and-flipping and later add buy -and- hold rentals.I am open to other techniques but wanna stick with one before movingto another.

It would distribute that back to the investors (i.e., your friends and family who made the loan.)If one person has enough money, that's not necessary.

This money currently earns me about $2250.00 a month but it's PV could diminish if market conditions change making me look strongly at Multi Family RE.The money is in my S corp that is not related to REI.My CPA says to take a Distribution and form an LLC for REI.

You do have to make payments based on a 5-year schedule or the loan could be treated as a premature distribution with tax and penalties. 8)

The LLC should be used for rental property and if the property is held for the primary purpose of renting, then it would be rental activity income and subject to depreciation rules and capital gain upon sale whether it is short or long term.First we need to know who the owners of each entity are and I will guess that you are the owner of both entities.With that being said, the S-corp will make a property distribution to you and then you will make a contribution of the property to the LLC.The entry will be a credit for the asset, debit for the mortgage associated with the asset and a debit to the capital account to show the distribution.

Currently am reading about how to look at liens and the obstacles they present, the foreclosure process, tenants, etc.Once I have a property I’m looking at the Fix & Flip technique.

Tax-Free Distributions.

You know, submit one ad, and it gets distributed to hundreds of sites like craigslist.