The risk here is that any one or more of the investors could not perform on the balance investment causing some issues so you would want to create some rules and outs for such an occurrence.The ROI to the investors should be high enough to attract them for such an undertaking, however, your track record will help considerably with that.I would not do a fractionalized note for a deal this size and length of time.

And, I invest in it often when undertaking a new venture at which I'm unfamiliar.

I have two 21 year olds who do not have the interest or the skill to undertake this effort.

I'd also suggest that whether you decide to flip home or undertake some other REI technique that you focus on it until you are excellent at it before trying to branch out into other areas.Good Luck!!

:)Ken, as to costs of compliance we might keep it to what should be expected in the market rather than your firm's costs just to ensure it stays out of the marketplace forum.But I already know, most members won't be able to afford compliance issues in lending or seller financing as things are now, they need to head for those regulated brokers and originators to get deals done.Thanks for the effort in advance Ken, I know what's involved and it can be a huge undertaking!

ALTERATIONS: Tenant shall not paint, wallpaper, alter or redecorate, change, install, or re-key locks, install antenna or other equipment, screws, fastening devices, large nails, oradhesive materials, place signs, displays, or other exhibits, on or in any portion of the premises without the specific written consent of the Landlord.14: PROPERTY MAINTENANCE: Tenant shall deposit all garbage and waste in a clean and sanitary manner into the proper lidded/covered receptacles and shall cooperate in keepingthe garbage area neat and clean.

Rents are going at about $700 or more.Some of my options are:1) Demolish and construct a new 2Bed/1Ba house for rent or sale2) Demolish and construct a new 3Bed/2Ba house for rent or sale3) Demolish and sell the lot off.Limitations for meI am presently working on this deal from Singapore but have formed some nice partnerships with a few people in San Antonio who can help to oversee any decision I may undertake.

Many other states have very similar definitions of RE activity that requires a license.4735.01(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

This is a complex undertaking for a first deal.

To clarify my post, my immediate focus is wholesaling, and to market to owners, however I would like to have contacts ready in case I find a deal would like to undertake myself for a fix and flip.