As far as individual SFR deals go (not bulk REO) I try to stay in CA.

And when I did find potential leads, see #1 above to get an indication of how hard it was to put these people in touch with my PM.

A quit claim indicates who is saying they have no claim.

If you need financing make offers that clearly indicate that you will be getting a loan.Note that some deals will only happen with cash buyers.

The IRS would not allow the individual to deduct the mortgage because the interest is not from a personal residence or vacation home and there is no rental property in the individual's name to offset the deduction against the income.

We buy individually, generally only requiring 5%- 10% down and usually with a seller credit at close that will cover future mortgage payments for 1-2 years plus closing costs.Why not post the numbers on a typical deal?

Can you share the terms and conditions of the loan you are about to get from this individual---what type of loan program at what interest rate?

You can likely refinance or otherwise pull out some equity but as others have indicated the cash flow is not very strong.Paying off your primary home is more emotional than wise in terms of investing.

We hope to do 10 properties over the next 18 months.I know that an LLC can make the designation with the IRS to file as an individual or as an s-corp.

I have read many postings in this forum which indicates how much difficulties of dealing with asset management firms and such.