@Dean Poff ii How do you declare 'quick claim deed'?

Plus, good luck using an unsecured note alone if the borrower declares bankruptcy and the BK trustee claws back the property.

How far in advance are the rooms reserved in order to declare this as fully rented, and count on it being fully rented in your calculations?

Often times ESA is just a phrase tossed around because many people bank on the fact you may not be well versed on the law enough to realize this and they assume once the declare their animal is ESA you will not pursue the matter further (though you should). 

So while you put money away for cap ex, you can't declare that as an expense as you haven't purchased anything yet.

So complicated question...If me and my 2 partners set up an llc (declare to tax as pass through partnerships) for the sole purpose of flipping homes and assuming we each make a profit I’d 10k per year.

Banks were writing loans based on declared income and people didn't have the ability to pay.

I understand it will require a leap of faith on your part but [look into his eyes here from half a foot distance, and grab his shoulder and rub it uncomfortably and squeeze his muscle tightly and say] if you stick with me, I promise you I will become a relentless force in the investing world and we WILL make money.. ... while for the next 4 seconds (FOUR, not 3, not 5, but 4) you keep staring into his eyes (from half a foot apart), noses almost touching.It worked for me Do this.

His take is most heirs are more than happy to sell to him and be done with it.I haven't check the bankruptcy aspect of NNN leases, but having been in the credit field for a number of years, I believe if the lessor declares bankruptcy, it does not negate the lease.

It will then be up to you to declare actual profits via whatever entity you are flipping under.