Is it not wise to buy here or is it ok as long as the house has a positive cash flow?

The only thing I've heard that works rental-wise in areas like yours is short-term furnished housing for corporate or grad student rental.

S-Corp 100% Shareholder for buy&sell short-term.I am thinking of transferring one of my inital 2004 S-Corp properties that I ended having as a long-term rental over into my LLC.How would this be handled bookkeeping wise.1.

Then a wise old-timer gave me a piece of advice.

Or is that not wise as well?

(Attitude-wise at least--I still work full-time!).

Cash flow wise, as a rental, its terrible.

Folks, please be very cautious of taking advice from a poster on BP with such a huge negative influence level and from somebody who has such a limited amount of contributing activity to the site over a long period of time.Add to that the due diligence that has uncovered the original posters inability to make wise investment decisions, you should be very cautious as to what advice you take from such a person.

Then the lender's wised-up....Write the purchase contract as a company...then sell the company to the final investor for a cash payment..

I still get anxious because I do have a local bank that will do 10% down with no PMI on a 10 yr balloon amortized over 30 years but feel I need to act quick before they wise up!!