I currently own one unit in Florida and used to be a mortgage broker before I moved to California to work in the entertainment business..For the last decade I've given myself various financial "challenges" to help keep me focused.

Realizing this may be a challenge for me I started looking into properties in the college town of Athens.

Basically, the info is as follows:invested - 52kGross Inc - 31,200 (at 100%) Mortgage - 8,500Op Ex - 17,500Net Income -  5,233.00CAP Rate - 2.92%  (market is more like 10-12)ROI - 10.42% - not good enoughAgain, my challenge is I took 10% off list price and it still doesn't look great...…..so.....???? 

I would settle on the business terms first, then engage an attorney to help you decide the best legal structure.

The challenge will be finding a lender to entertain this deal. 

I know the market is hot right now and that it is incredibly challenging to cash flow in SoCal. 

I really appreciate.I have a little bit of a challenge.

I listened to the 90 day challenge podcast today, and I am in!

But, thanks to learning about budgeting for emergencies and CapEx we have survived and overall have had a challenging, but positive experience.

Moreover, If someone does engage in prohibited transactions, how would the IRS ever find out?