Some states also have laws defining dealer status.

I also came late to the party, and I liked the "Epilogue" aspect to it.

If I remember correctly, this contradicts what I learned in my real estate classes -- while an unrecorded deed may not protect against third-party claims, the deed itself still defines a legal conveyance of title/ownership.

Lets say 4.5K for a total of 11K.Debt service on 70K at 4.5% is going to be about $4526, giving you a cashflow of $2944, a 26.8% COC return before taxes.There's definately more risk involved with 2c.

You need credit, income, knowledge/experience, collateral and assets to be considered for financing in RE, if you lack in one area, you need to compensate in another area, but the ability to repay and collareal can't be completly overcome with other aspects.

Probably not.I also see you are in the Republic of Cali, so what a judge may consider consideration may stem from some other aspect of the contract if adequate consideration was involved, but sounds to me like it's that ten dollars together with other good and valuable consideration thing, if the consideration recited is not sufficient for the scope of business to be conducted, your seller may not be bound at all

This one is critical for all aspects of business and life.Jimmy is the person who got both my father and I interested in investing in mobile homes.

I guess I'm curious how the IRS/banks define occupancy.

You've got to steer away from these conformists in the financial marketing world, they will not make you any money (unlike themselves).Now down the road you might go to the financial advisor as an expert on various aspects of real estate, with a proposal for how his/her clients can earn 8-12% returns with you, and you are considering accepting new investors that are a good fit for your program.

If you were managing properties valued at 10,000,000 and you were on a 10% equity position for oversight, well, you'd have your million quicker than if you bought a million dollar property and paid it off, so don't discount the partnering aspects.