The last thing I need to do as a first time investor is massage the #s to get a house and end up losing money or doing it for free...I will hang and there and keep making offers...I'm going to try to get my real estate license in the next few months so I can start viewing houses on my own time and getting access to the MLS to streamline the process...Right now I wait on input on recent comparable sales, wait to view the property and wait to make the offer...it just takes too much time...I feel if I was an agent I would be viewing 15+ homes a week and making several offers per week.

Be aware that there are other California code regulations that also must be followed.Most states would consider the sale of fractionalized interests a securities offering, not have a specific procedure for it other than the general securities offering procedures. 34 states have adopted exemptions for private placements similar to the SEC general exemption for private placements.

I am trying to understand the procedural requirements and would like to discuss with someone with prior experience.

These are both extremely useful sites as the state site can forward you to numerous places like the dbpr (department of business and professional regulations) where you can do professional license searches, (for example, a great place for locating a seller that has a professional license, i.e. a massage therapist or a hair stylist, or a real estate agent, they all would be listed here)  You can also find the link to your Secretary of State, also a great place to skip trace if your seller/buyer is an investor or biz owner.  

If you can master the concepts in that article you can analyze stuff pretty well with a 5-minute procedure instead of building massive spreadsheets that don't add a whole lot more value.

Thanks, so the standard procedure is to obtain financing in your name, but put the property under the corporation?

Using my manuals, bootcamps & procedures I had gained from several guru courses, I started putting together what would eventually be my standard operating procedures, and flowchart for my business.

Therefore I assume the procedure varies by county/state.

So this post is not for those who oppose this method.My question is when I have an item that is not fully depreciated but becomes obsolete (broken microwave) I have done a journal entry to move the remaining depreciation of the item into a repairs expense account.Do you feel that is the correct procedure?

They will only create headaches for yourself and cause you to deviate from your policies and procedures due to the human being emotions we all have.This is an unfortunate situation for Jessica.