Assuming performing loan with a good equity position relative to value and nominal purchase costs, its a good deal IMO.  

You can nominate whatever tax either C or S if you're an LLC, if my understanding is correct, S treats your income as a pass by, so whatever is income is left in the company, goes directly to the shareholders, the only difference between corp and llc is if shareholders on llc is 50/50, they could split them 30/70 or whatever, while corps can only get 50/50.

I will have the sole and exclusive right to purchase the property at any time of my choosing for the nominal amount of $1 from the seller and whatever arrangement I might make agreeable to satisfy the relevant creditor bank's remaining debt.

Sometimes when I see a tenant is having trouble making the rent on time,  I offer to reduce the rent by a nominal amount any month where they pay me before the due date.

(It will be a little bit less than that, but I was surprised with all of the fees that came up.)I decided to sign up with HomeSmart because I get 100% commission and pay a small monthly fee ($25) and a nominal fee every time I make a transaction ($300). 

Out here on the West Coast, things are pretty hot....prices are high, returns are nominal.

And they may not give you any breaks for living there.If just starting a 4 plex would be easier and better terms.I have seen where a 5 plex was turned into a 4 nominal plex by opening a door and calling 2 units one unit for the day of appraisal and the mortgage application. 

I would probably make it a nominal amount, such as $20.The incoming person needs to complete an application process and pay the application fee for that (ours is $40).

Try using angies list to find trades and pay the nominal fee they charge for the inspection.

A good strategy is to offer to pay the person (something nominal, like $250.00 to $500.00) just to spend a day with them and "look over their shoulder".