If it's not too late, I would crunch the numbers harder and see if this is the right deal.

Don't trust the seller will make that payment when they get yours.If I am the seller then, yes I have to make that payment to the underlying on time even when my buyer/payer is late. 

This would be an added bonus as I am more interested in the cash flow from rent.The current deal I am looking atBuilding type: 2-flat with finished basement and 2 car garage (garage is 6 years old).Neighborhood: North LawndaleListing Price: $150K with 2 car garage.Taxes: $3600 per year est.Building condition: turn key.

He just finished a remodel on a 100 unit apartment but he does a lot of new development.

Thats the great thing about BP Nation.So Dave to make sure I'm understanding a possible solution - quiet title can be done so JS owns lot 1 - "A LLC" owns lot 2 and we are no longer TIC thus dividing up our ownership interests cleanly.Then my builder could take title to lot 1 owned by JS....I identify Lot 1 and the proposed building to be built on it as one of my exchange properties.I take the construction loan in the name of "A LLC" and take draws paying Builder Bob to build the duplex - he can use the draws to pay JS off for the land - he finishes the duplex in 4 mos - then I get perm financing and through the qualified intermediary A LLC takes title to the finished newly constructed duplex?

So while the first section might be too late to do for your sister maybe it will help someone else in the near future.1.

Hi my bp family .I'm getting ready to start in the real estate world ,I'm going to lay out my plans with you guys an hopefully get some positive feedback .i own a home that's free an clear an getting ready to finish my basement an have it rent out with plans in pulling out a equity or heloc an have the proceeds from the basement unit to cover the expenses which I plan then too invest a portion from the equity on a multi family also I forgot to mention the basement unit will be legit as far as the plan goes I plan to rinse an repeat this method any suggestions,or am I  missing something your thoughts will be gladly appreciated 

Welcome to BP @David Krainert never too late to start!

Consider talking to an attorney and getting ahead of this before it’s too late.

hello all I'm looking for a lender that I can qualify for,a heloc  I just bought my firsts property in Franklin park and it was a great deal I'll be living in it for 2yrs then renting it out I got a 203k loan the purchase price was 134k with 61k in repairs the house appraised for 270k I purchased it in September made my first payment Nov. 15th there have been a few issues that were unforseen and I need a loan to finish and some extra for financial issues that came up does anyone know of a lender in illinois that can help thanks in advance