The home was abandoned and subsequently auctioned.This is in Thomas County, Georgia near Thomasville.

Can you amend your taxes to show a profit (and pay the subsequent extra tax)?

Spring Valley, Enterprise, NW Vegas, Henderson areas.

It’s hard to just pick 1 or 2 so I’ll just list a few.Improper economic vacancy assumptions Aggressive year 1 gross receipts projections (they immediately jump the income to new rents with no phase-in which is simply impossible)Underestimated expense assumptionsImproper use of cap rates and/or incorrect exit cap rate assumptions Failure to properly account for property tax reassessment post-sale (in states that do this)Basing exit prices on capitalized value of the income without accounting for the subsequent owner’s property tax reassessmentFailure to account for all of the costs incurred in putting together this type of deal and purchase real estate of this sizeFailure to raise enough money to pay the down payment, closing costs, finance costs, syndication costs, immediate capital improvements and still have enough money left over for capital reservesIncorrect calculations of income, cash flow, cash-on-cash return and IRR and/or a clear lack of understanding of those calculations and how to use themLack of waterfall calculationsIRRs and cash-on-cash returns that are inflated because they aren’t raising enough money—and once they realize that and raise more at the last minute the Projected returns would adjust lower but it’s too late now for the investors to evaluate the what the projections should be because they already subscribed This list is just off the top of my head—if I sat and thought about it long enough I could probably double the size of this list.

@Jeff Filali  This is the kind of crap that makes people like me despise the entire wholesale/contract flipping enterprise - and especially the gurus who make money teaching this garbage.The homeowners were seriously abused throughout this and they suffered very real damage.As to the sellers doing more due diligence, sure. 

My goal is to create a real estate enterprise for passive cash flow and long term retirement. * this forum/podcast/blog is awesome.

(example below)I can pull the Zoning code site - http://www.miamidade.gov/zoning/district-iu-c-industrial-conditional.asp however this doesn't explain exactly what can and can't be done (its very generic)LAND USE AND RESTRICTIONS Community Development District:NONE Community Redevelopment Area:NONE Empowerment Zone:NONE Enterprise Zone:NONE Urban Development:OUTSIDE URBAN DEVELOPMENT BOUNDARY Zoning Code:IU-C - INDUSTRIAL DISTRICT, CONDITIONAL Existing Land Use:802 - VACANT, PROTECTED, PRIVATELY-OWNED.

Middle scenario, I use a turnkey company to make my first long-distance investment, learn, realize I can do this on my own with better margins and make subsequent deals on my own.

Becoming an agent will take resources away from your investing enterprise.

hi everyone,My partners and  are looking to open another entity and were throwing around names and we are considering the name Monopoly enterprises inc.