Keep the business and accounting simple until you see if this is going to work for you and you need some sort of elaborate scheme to hide your money.

Sure it is exciting, but if you had the knowledge and experience behind you, then attending one of those pitching seminars, you would see right through them as if you were Superman.There are better ways to educate yourself in RE investing, than attending those seminars which are elaborate sales pitches to get you to take a weekend bootcamp for $5k, then private mentorships for $30k+.

Could you please elaborate some on your first moves?

Translation (elaborated some):I can fully understand why the homeowners policies wouldn't cover it, but I would assume that the builders liability policies should cover the faulty products.

All of this was many years ago, and our entity structure is MUCH more elaborate now and pretty ridiculous at times, but I have earned that ridiculousness over the years and the assets we have accumulated and businesses we have started.Bottom line, LLC's in my opinion are great for liability protection PLUS make you look more like a business, and not a hobby. 

Hi Ralph, could you elaborate on this a little bit, if you don't mind?

What paperwork is needed through out an entire "Subject to" transaction, so I can better educate myself.I understand(or think I do) I will need my o Subject To Contract (if someone doesn't mind elaborating or giving advice based on their experiences)signed by an attorney.o POA to make payments on the mortgageo Authorization to release Loan informationo-----release of insurance informationo 1978 Lead paint releaseAnd are there any resources that you would recommend for the paperwork portion.

Would you be willing to elaborate on the types of fees?

Fritz, could you elaborate?  

@Nick PattersonCan you elaborate?