The buyers I resonated with, who I believed in as operators–those were the people I was willing to be flexible with.

If you own 25% or more of any LLC you are required to register with a FINCEN ID for beneficial ownership by January 1st or you could be subject to $500 per day fines.Have you taken care of business?

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.

The cash investor who "saw the property on zillow" but doesn't really understand what REO means or how the banks operate. 

Those who just try to copy the price model and not the operational leg, yeah they don't last long. 

I was just on their website looking at the permit process:CityofSac-STR PermitLooks like 90 days max until you get a conditional use permit but still reading as it seems a little unclear:A short-term vacation rental may operate from a location that is not the operator's primary residence for a total of 90 days in a calendar year.

I understand that they operate in real estate under one of a few exemptions from registering as a security with the SEC.

Depends on the operating agreement and docs you signed.

@Ella Marie, I can't speak on behalf of your market, but in my respective market, competition is tough, and the successful fix-and-flip vendors are often full-time operating businesses.

@Jay Hinrichs Thanks Jay, I will probably bounce back into the government (DOD) with my Special Operations network.