My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property. 

Their lease is 6 month term with a same rate month to month however, their insurance states the rebuild of their home and fire investigation efforts are going to take 12-18 months. 

I am starting my first househacking deal this year and I will Segway that into my second deal by end of 2025.
I would love to hear all you experts and pros with experience to tell your story. If you are in the Seattle...

Quote from @Christian Solis: What business entity should I should I structure my fix and flip business and what are some tips I should should keep in mind so me and my partner are protected ?  

Travel costs to look at other properties.If you travel but have not identified the property that you want to buy yet, the cost is considered an investigating cost.

That will typically generate a response from the PM to negotiate a settlement and avoid an investigation.

Here’s how they help you break through hurdles and tips for finding the right broker for your needs.1.

Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating.

It even gave suggestions on what I could improve based on what my competition is offering.Link to the operator in action is here https://drive.google.com/file/d/1C1uTqgWGfs3AMsUdDWd0FOTbVFM...Quick tip: don’t pay the $200 for this just yet.