Not a problem per se, but something to understand so you can buy at the right price and build that into your expense profile.

We have had similar results in the SE Michigan area, although it has become more difficult to find good deals since this summer.

I am interested in locateing any property investment clubs in SE Tenn.

Keith Ghion - the process I'm describing above is generally used for properties that I buy myself, and then re-sell (not the traditional "wholesaling" model, per se) - but yes, when I do use the wholesaling approach, I just bury the cost in my wholesaling fee.I typically determine that a property is ready for an inspection after I've run the numbers and the seller has accepted my offer (my purchase agreement has an inspection clause that allows me to renegotiate the price after I know what is ACTUALLY going on with the property).Does that make sense?

That's a bit further SE than where I looked, though, so I don't think I've actually see this specific area.

In this Attorney's situation, he was too busy with other pending cases, that it caused me to have a longer eviction than what was necessary.Most Attorney's in NYC will charge $300 or more per hour when they go to Court.It wasn't until I decided to do my own eviction (called a Pro-Se Eviction) that I found out that I prefer to do it myself, despite all the literature contrary to this.On this 2nd Eviction, the tenant did not show up.

You wouldn't be sharing the mortgage per se, the lender would fund to one borrowing entity made up of multiple members or partners. 

You could also pay SE tax of 15.3% on any profit (this may depend if you are flipping multiple homes and if the IRS considers you a dealer vs an investor).

The flipping LLC would elect to be taxed as an S-corp - this is done to reduce the portion of self-employment taxes paid because flipping is not considered a passive activity and you are responsible for paying SE taxes.

Realistically I’d say it doesn’t even have a cap rate of it’s own per se currently.