I recommend a host of things from incorporating an official application process to collecting official screening reports including credit, criminal and eviction reports.

If two investors (debt and/or equity) come together and form an LLC which is used to purchase mortgages, that join will be governed by the Articles of Incorporation and Operating Agreement of the entity.

If not you may be required to incorporate or sell.

Just to be clear, this question is not because I'm trying to save money or cut corners; instead, I'm trying to build a successful flipping business and incorporate the best practices early on.Another thing I don't understand is what additional value an inspector adds if your general contractor, who also looks at the property, is very experienced?

@Dazrell Fleming, how are you incorporated?

Hello:One other option, if you are happy with the original lease, would be to just sign a 1 page extension of THAT lease which fully incorporates all it's terms and conditions but notes the new term and rent.Bob

@Rainiel De La Nuez I have experience doing JV's and using SPV's in corporate asset transactions and contracts.

We also have a good friend who owns a concrete company that we could incorporate into our business if need be. 

I currently work in healthcare and obtaining a degree in graphic design (art has always bee my first love.)

All I know is that I can find owners that are doing this multifamily Apartment complex thing all wrong and are burnt out and I can reposition them in a 18 month to 24 month period the David Lindahl and Lifestyles Unlimited Incorporated way.