Will,I count each property as one deal.For rehabs, IMHO, it would be incorrect to consider a fix and flip as two deals.

I've seen situations where the asset manager is absolutely fine with it (assuming you can prove that it's just going from your company to you or vice-versa) and I've seen situations where the asset manager refuses to allow any changes to the buyer name on the contract.In general, I'd say just take title in your own name at closing, but if you need this for a loan, that probably won't work.Also, since this was purchased at auction, I'm guessing you don't have any contingencies that would allow you to back out of the deal, and therefore you have very little leverage (correct me that's an incorrect assumption).Ultimately, your best bet is to ask the listing agent VERY NICELY to help you out and make the request of the asset manager.

Thank you guys for quickly jumping in on this one and correcting some incorrect advice.

I have had conversation with other landlords about craigslist and we used to say rent a drunk but I suspect Im being politically incorrect here.

Go to Sherwin Williams and ask if they'll sell their mistints (paint that was tinted incorrectly and therefor unsellable).

Just want to make sure that we are on the right page here.The subject matter and the majority opinion is that I was incorrect in the statements I made (except for the admitted mistake about the guy giving a valuation assessment);And, that the service is to take pictures of properties for third parties and upon their request, provide his opinion of the condition of the property and in so doing does not need to have a license because he charges a nominal fee.

Maybe that's an incorrect assumption, and if so, you should be able to post some pictures that make that clear.Also, taking a look at the pic of the back of the house, it appears the roof-line is bowed a bit, indicating that there could be some structural issues with the roof.

Why, because vacancy, loss of rent, and capital expenses are NOT "operating" expenses.Of course the rule states "operating" expenses for simplicity's sake, but as new investors become more seasoned (and I would like new investors to not come across incorrect in conversations with terms learned here) it is important to understand the differences between specific expenses.

Cities are trying to find cheaters and will drag you over the coals if you get caught doing work incorrectly and without permits.I agree with Jerry on the plumbing.

However, HUD has is listed incorrectly as a SFH as 2/1 and the asking price is $50,000.