I keep minutes, use the LLC's bank accounts ONLY for business purposes, pay all fees and taxes, emboss original official paperwork with the corporate seal, and document all major business activity.

.- Flip a single family house with NO MAJOR REPAIRS.

One major bank will go to 525 but you have to fit a fine criteria that is bascially hard to get to.Stated= 1099 or cash wage earner will usually stop at a FICO of 620.

Last year I had a pretty major rehab (ppty cost $22K, final material cost $14K) and I "shopped" my major list at all three.No suprise HD was the absolute highest, also they DON'T DELIVER at any price.

-If you chose to sell subscriptions to the data to non-licensed individuals as well as Realtors, the majority of the public probably wouldn't pay.

I still perform credit checks, but I just look for major red flags, like bills that they are currently behind on, bankruptcies within the past four years, etc.

I've also adapted a business model where 10% of every major good deal that goes through, gets funneled directly to these kinds of efforts--kind of helps keep me humble, oriented on what's really important, and makes sure it doesn't get brushed to the sidelines in a money making bonanza.

The house is very 1970's and needs a LOT of cosmetic stuff but nothing major other than replacing 2 decks.

And you're right, hopefully when its time for me to make deal of my own i'll be able to avoid any major mistakes.

I'll need new electric service, furnace & hot water heater . . . so, all and all, there is no MAJOR renovating, simply getting these 2 units operational. . .If you know of any good, reliable, and reputable contractors in the area, please PM me, or send me their details.