Thats why I am asking for suggestions - LEGAL/ETHICAL suggestions lol..

Anything will cash flow with no management, no vacancies, no maintenance, no legal fees, no tenant damage, etc, etc, etc.Mike

If the lender drags their feet, makes senseless demands, or passes on a contract, my attorney will make phone calls or send letters to their legal department.

But is there any legal liablility if you are the owner and realtor.

Give them the address and ask them if the housing permits are current and how many there are.If it's not listed as two, tell them that it's advertised as a duplex and ask them what you would have to do to get it legal if you were to purchase it.If it's an illegal duplex it will help you in two ways.

Hello Board,
I have my first purchase in the UW process right now and I have a question in terms of my long term growth that I was hoping we could address. I am purchasing this property via an FHA loan. Needless to sa...

Of course, first thing you need is good legal counsel.

I would like to update this because it is now a legal matter more than before.

I'm a beginning investor and i see the power of using private funds but i just don't know the proper and legal way of doing this.now i know about talking to people you know, other investors, and marketing to other high net worth individuals, which all of this i would consider the first step in the process.the second step i'm guessing some will say is working out the agreement/financial details with the your private lenders once they say they want to invest (which i plan on doing all this in step one, letting them know they're either going to invest as a lender or has a partner and this is what they'll get in either scenario)but my questions are:1. when do i have to worry about the SEC?

Jeffrey, Operating expenses include taxes, insurance, management (even if you do it yourself), maintenance, advertising, office supplies, legal fees, evictions, damage done by tenants in excess of the security deposit, entity maintenance, utilities (if only during vacancies), vacancies, capital expenses (not technically an operating expense), etc, etc, etc.