I help develop rooftop racking structures for commercial solar projects.I went to RIT in Rochester, NY for my engineering degree and discovered what a great rental market it is.

Inter entity agreements, capital structures, pro foma accounting considerations.

We are getting through all of the paper work right now but within the next week we should have our LLC formed and funded.Now that we can finally focus on finding properties and not the structure of the company it is starting to feel a bit like we are forgetting something.Our team includes:Acquisition:I am a realtor so I have access to the local mls; my partner and I can narrow it down to a few properties of choice.

I do understand the term "AS-IS" but HUD represented that they were selling a house, not a lot with a tear down structure.

Maybe the 2nd structure does add substantially to the premium, my building just has a parking pad so I have no experience.I use John Anda @ Farmer's [REMOVED].

Oh wait they are all probably connected in the same shell corporation............................. : )

I know forming an LLC is the way to go and what we would end up doing but I want to gain a better understanding of the logistics of a deal like this and if anybody has structured any similar deals.Keep in mind I would also like to make (and keep) my investor happy as this is my first flip!

Welcome ,, If you’re looking to getting into wholesaling follow @Kevin Tunney threads Looking for local lender / buy & hold look over @Eric Michaels threadsBoth our from the Windy cityExperts indicate you need 20% for multi-family ,, but if you go through HUD / Fannie Mae / Homepath( smaller down payment for Owner Occupied - most likely)Maybe check for city owned properties Where you purchase low and build sweat equityFor example ( Owner Occupied )~~~~~~~~~~~~~~~~~~~~~~~~~~~~City of Milwaukee here offers low purchase price and rehab loans at extremely low rates Do not shell out any money until you at least visited your local REI club a few timesReason~~~~~~~~~~~~~~~~~~~~~~~~~~~that would help point you in the best real estate directions for your local market

You're not going to have to shell out any cash up front.

These homes are not conventional and you need to get with someone familiar with these structures, imo.