The most recognized may be the Section 1031 tax-deferred exchange, which is the bailiwick of perhaps the most educated and creative people in real estate--professional Exchangors.

We train Property Locators (we call 'em BirdDogZ) all over the country and feel that having a "mentor" in the business is absolutely a great thing.That being said, I will agree with Ryan's suggestion that you start your learning process now to get a genral grasp of Real Estate Investing so that you can ask quality questions of your mentor.You must also understand that the people that actually wake up everyday and do the business of Creative Real Estate Investing are asked e v e r y d a y to be someone's mentor.

Who figured the debt service numbers are they on your numbers or theirs remember this is 5+ units so it will be a commercial loan with most lenders and you will need a large down payment.If those repairs and maintenance costs are historic be prepared to deal with tons of deferred maintenance.Also on a multifamily be aware that you will be the person that people go to when they have a problem with their neighbor.

A carefully-thought-out financial plan for any considered propertyI've seen too many new business owners fail and lose everything because they really weren't financially prepared and organized when they opened the doors.Trying to jump into this without sufficient funds and without a good plan means you're dealing from a position of weakness.

i can see you're an entrepreneur huh.well prepare yourself for the ups and downs of being a noob.you're gonna get so gung ho on one thing in one week and a few days later, get hooked on something else.one week, you'll be wholesaling...definitely.the next week, you'll be buying, rehabing and selling...DEFINITELY.the next it will be buying, fixin and renting, refiing...WITHOUT A DOUBT.whatever you do, stick to your guns about one thing:MAKING A DECISION TO TAKE CONTROL OF YOUR LIFE, PSYCHOLOGICALLY, SPIRITUALLY, PHYSICALLY AND FINANCIALLY!!!

You subject to's can be the normal conditions such as subject to appraisal, subject to inspection, subject to new mortgage...etc.Or they can be as creative as possible in order to make a deal happen in your favor.Here is a creative subject to; subject to owner including the grand piano and vintage pool table to be included in the sale of the property.

Now you do need to find creative ways for your work to be most efficient, but it still comes down to work.

Other creative ones can range from being subject to a partner's approval to the inspection contingency you talked about.

Dealing with hardmoney lendersWhere to draw the lineAssuming the following expenses in a Real Estate Retail Transaction from end to endBuying a property expensesPurchase price+ Acquisition Expenses (Purchasing points costs + Holding Expenses for x months(mortgage payment)+ Closing Costs)+ Rehab costs + Agent/Realtor costsProperty Re-Sale expensesResale Closing costs+ Resale Marketing+ Realtor/Agent commissionwhat are the expenses a real estate investor would expect to be ignored by the hard money lender.I mean how does the investor approach the hardmoney lender,does he include all the above expenses as the loan amount when he prepares a project plan for the Hard money lenderor does he request all of the above money (expenses) part by part from the Hard money lender,please any one explain in detail,thanks,David

Like a good investor, I am prepared to hold the house for the Congressionally approved 5 years and live in the house the last two years to receive favorable tax treatment should all of the above fail --praying all the while for a decent tenant who could actually take care of a freshly rehabbed house AND change filters AND cut the grass.