The downpayment you proposed is big.

Right now the appraisal industry is in a tail spin thereare several peices of legislation pending that will eventually pass that are going to change the industry.

Because, if you do what you propose that now means that someone can go after your assets in both states, by having just one legal entity.

However, thanks to one guy doing just what you propose, we now have much stronger laws.In general, you must learn and follow your local laws.

my state and the surrounding states have passed legislation that outlaws certain activities as it relates to foreclosure. a national "guru" may or may not be familiar with how to maneuver around such obstacles.

I've read this three times trying to figure out exactly what's being proposed.

The expected market value of the property is determined upon completion of the proposed rehabilitation and/or improvements.

My estimate is that you would be losing about $150 per month (over time).So, what you're proposing is paying more than market value for a property that loses money each month.

There are a dozen REO listings i was tracking that had accepted offers / went under contract ("Pending") in mid-May-08 - with a proposed Closing Date of early-mid-June-08.

Michel,[Disclosure: I feel that many guru programs and services can be offered at much lower costs and experts are preying on naive "students" who are desperate for success]I have to be consistent in pointing out a counterintuitive aspect of your proposal.