With that being said I’m looking for A licensed GC with experience in doing rehabs under a 203k loan in Salt Lake City Utah.

Going prices for trendy areas in Salt Lake seem almost out-of-control.

I'm mostly looking for a lawyer in Salt Lake to help draft an operations agreement for an LLC .

This strategy may work for you because a) the reduction of monthly debt service on your current home may allow you to rent out your current home for a decent cash flow b) the low down-payment requirement (3.5% last I looked) on FHA loans would allow you to tap only the cash you have on hand and purchase a new property.Pros: Most efficient use of available liquid capital (from the brief snapshot you have given me)Equity in current residence could later be tapped to help you remodel and build equity in second purchaseCurrent residence may cash flow well once rented (not enough data to verify)Cons: Require you to moveHave to pay refinance closing costsThere will be time that you are paying both mortgages while you are looking for a suitable renter, but if you plan this for PCS season for the large number of military installations in the area your risk here is greatly reduced.Please remember to take this with a grain of salt, I do not have all of the details of your situation and you should talk with your spouse and lenders to ensure that this works in your situation before executing this strategy.I hope all goes well for you,Allen Fletcher

Or if you want to drive a little bit http://slreia.com/ meets in various places in salt lake county.

I'm not an investor, so obviously take my advice with a grain of salt.

Adding to that, I definitely wouldn't use any contractors or inspectors that the listing agent recommends (or at least take it with a major grain of salt). 

Account ClosedHi Laurence,I am a rookie on these forums so take this with a grain of salt,Banks or lenders will still give you a mortgage, if you show them you have a contract for the sale of the original property.

So always take my words with a bit of salt.

Just take it all with a grain of salt, after all they're trying to SELL!