Can a taxpayer claim the first-time homebuyer credit if the purchase is pursuant to a seller financing arrangement (for example, a contract for deed, installment land sale contract, or long-term land contract), and the seller retains legal title to secure the taxpayer's payment obligations?

In other words, are you looking for cash flow only and can care or less about future appreciation all the while retaining high managerial responsibilities, or do you want something else for your goals?

So it LOOKS like an REO but Chase told me the owner still retains the home and only he can agree to a sale.I will def do the title research suggested.Thanks again for all the help.

As such she will probably retain "checkbook control" and be the primary contact with the professional service providers.We are looking for...People to network with in the San Diego (Ramona) area.Help in finding local experienced real estate support professionals (CPA's, attorneys, agents etc.)Beyond the "trust" we are interested in learning more about becoming involved as HML's.

So, if you can find out where thoses loans are going through the broker you could ask the bank.The bank may be a little higher to retaining the servicing rights where the broker sells servicing on a service release basis.More than you probably wanted to know.

You're right on.The other point that was an issue for me while I was starting out, is that I needed cash-flowing properties that could sustain purchases of additional properties (through investment of cash flow) and retaining the ability to qualify for new loans without solely relying on private/hard financing.

Most investors would choose the lowest possible down payment and retain the extra cash for the next deal.

Well had a chat with an attorney so far that wants a 3,000 retainer, and although he spent 30 mins on the phone with me answering my questions with regard to setting up my LLC, or whatever entity he and a CPA determines I need(C, S, corps, sole propriety, etc) seen others on this site getting the same rates for knowledgeable attorneys, of $250-300/hr.

So you could almost consider this a basement.Want to retain the hardwood look but am concerned with going with real hardwood and considering engineered wood.

I did add a few things to the title co contract, such as:If the Purchaser defaults at closing, the escrow amount will be retained by the Seller as its sole remedy. 4: a.