I don't know if you've already considered this or not.Have you advertised (on all social media networks and free classified sites ) or checked your own database, offering this lending opportunity to other private money investors?

If the LLC is incorporated in another state, then by default any business activity conducted in the state of Texas (including banking) would probably classify it as a "foreign" entity.

Things to consider in your agreement: Worker Classification – For employers, incorrectly classifying an employee may have significant tax implications for your business.

Remind me never to do a U tube I don't want to be classified as a Moron..

That depends on if your state you have a notice of default or a lis pendens notice that is required of the lender by state statutes for foreclosure proceedings.In my state of Georgia we don't have either.Simply a letter is mailed to the borrower from the lender and then the foreclosing attorney advertises 4 weeks in the local newspaper and it's sold the first Tuesday of every month.If your state requires notices to be filed then the courthouse is where you will get information first.There are companies that sell lists but by the time they come out days or weeks have already passed and everyone else is lazy and gets the same list.So the name of the game is to get to them before everyone else.To do that you have to be willing to put in the work.Other ways to find people in distress is by classified ads,internet presence,etc.If they are in distress and it's not in the public records you will have to get them to raise their hand for help.I have typically found those in the early stages of default to not be as motivated as 90 days or more behind.

It is the 800 pound gorilla of the classifieds world and if your ad isn't there, then it might as well not exist.

It is a 'capital improvement' and will be used to adjust the depreciable basis of the property when it is placed in service as a rental.I'm sure your wallet can't tell the difference between an expense and a capital improvement at this point, but that's how the tax code classifies them.Best of Luck!

I would currently classify the city as a C neighborhood.

You may also be able to classify certain repairs as "Routine Maintenance."

It's basically like Craigslist, when it should be more like a well organized Classified Ad section.