And the "perfect" Sub2 deal ain't looking so "perfect" anymore. 

The leader is a pro at sub-to deals and is very giving of his time to help out new investors who are serious.

This was my first deal, and house hacking made the most sense because it lowered the threshold for risk in my mind.

I assume most very ggod deals are all cash.

A lot of people say they can't find a good investment in LA, but you are proof that deals can be found.

Your LLC saves you absolutely nothing on taxes, unless you will end up making a killing on this deal or have other juicy deals - and that is a big IF.

I would recommend anyone that gets started has at least a list of 10,000 to ensure they can get 1-2 deals that first month. 

The predicament we are in is the property is not in the condition to charge that much for rent and we would also leave a lot of money in the deal once we refinance if we cannot get in there to fix it up.

I was referring to Owner Occupied foreclosures in particular, when warning to stay away from foreclosures in certain states.I agree that door knocking would be the best way to get these deals down.

I'm interested to see what you more experienced professionals think of this deal as its structured as well as being in the predicament of having our agent represent the seller ( as himself) and us as the buyers.