Do I need to hire a lawyer, or is this something that can be accomplished through some form of a formal filing?

I just thought I would finally formally introduce myself.

Forget about seeing one on the MLS.I'm currently gathering info on rentals in the North Nashville area, which was once sketchy (and is still in parts), but is bordered by nice neighborhoods now.

The bank did not provide formal written notice and I doubt they will; or, if they do, there will be no penalties.

Do a formal comp analysis -- it will be much more accurate -- and in my opinion, you should never use 2 bathroom houses to comp less-than-two-bathroom houses.

What I'm about to say is my opinion based on several factors; a. experience in reviewing thousands of RE transaction with respect to lending issues. b. legal aspects from personal experience and formal training and c. subjective judgment in applying learned experiences.

$5M probably would be better in terms of coverage.Second, in terms of piercing the veil, it varies state by state, but some common factors are failing to adequately capitalize the LLC, commingling personal and LLC assets, failing to follow corporate formalities, etc.

I'm right across the border in La Crosse Wi.

With their help you won't have to deal with the legal formalities and procedures.

deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $850/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1100/month, market value is $160,000, plan on refi into better loan in 3 months#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $700,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.