DETROIT FREE PRESSLocal housing market blooms for buyers and sellersThe practice of flipping has been popularized by a variety of reality TV shows.RealyTrac compiles data from a variety of sources, including records from tax assessors, mortgage deeds, foreclosures and auctions.The average flip was up from $65,290 in the previous quarter, and up from $61,684 in the first quarter of 2014.More than half of the homes flipped sold for between $100,000 and $300,000.In a ranking by percent return, an average of gross profit of the home price, metro Detroit was fifth with 58.3%, it followed Baltimore, with 94.1%; Deltona-Daytona Beach-Ormond Beach, Fla., with 74.7%; Ocala, Fla., with 73.9% and Lakeland, Fla., with 62.5%.Other markets in the top 20 included Tampa, Pittsburgh, Memphis, Chicago, Seattle, New York, Washington, and Boston."

You can take exemptions for a variety of reasons, including deducting taxes on mortgage interest.

The what I call boutique Turn key company.. this would be a smaller company that has a variety of services they offer.. many times its a you buy you rehab and we manage scenario .

There are a great variety of rental management company options along the Emerald Coast Beaches, it's a competitive market, so it should be fairly easy to get more than one opinion on the different HOA's, which are most agreeable, and who has the most reasonable fees vs. amenities available.

It is a very interesting city with a nice variety of properties, and it is close enough to Chicago to be a very reasonable day trip - you aren't much further away than we are from Madison.Best of luck - maybe we'll see you there some time.

How do you intend to document your income/assets (loan program is available in a variety of DOC requirements; SIVA, SISA, FULL DOC, No Ratio)?

I realize that they may vary depending upon a variety of circumstances, but I'm trying to get a general ballpark figure with which to begin until I can form a more personal opinion thru experience.

I always find it so interesting to read about the wide variety of investments people make.

The "desperation" level depends on a variety of factors....the most important is buyer demand.  

With a multi-member LLC what you are actually looking to have prepared (in addition to a proper operating agreement -- and not necessarily the Manager-Managed variety) is an LLC Resolution, to be signed by all Members, which authorizes X person to sign agreements, loan docs, closing docs, etc.