A sill plate is a wolmanized (green, pressure treated) board that goes directly on the foundation wall and you typically put your spruce/pine/fir framing on top of that wolmanized board.

This reminds me of a Rudyard Kipling Poem, titled:IFIf you can keep your head when all about youAre losing theirs and blaming it on you,If you can trust yourself when all men doubt you,But make allowance for their doubting too;If you can wait and not be tired by waiting,Or being lied about, don't deal in lies,Or being hated, don't give way to hating,And yet don't look too good, nor talk too wise:If you can dream - and not make dreams your master;If you can think - and not make thoughts your aim;If you can meet with Triumph and DisasterAnd treat those two impostors just the same;If you can bear to hear the truth you've spokenTwisted by knaves to make a trap for fools,Or watch the things you gave your life to broken,And stoop and build 'em up with wornout tools:If you can make one heap of all your winningsAnd risk it on one turn of pitch-and-toss,And lose, and start again at your beginningsAnd never breathe a word about your loss;If you can force your heart and nerve and sinewTo serve your turn long after they are gone,And so hold on when there is nothing in youExcept the Will which says to them: 'Hold on!'

How HUD will treat the difference is up in the air and someone will probably be going to court to set the rules on this aspect of origination of a lease/option arrangement.

They've determined that 6-7% purely passive income (assuming they do their numbers correctly and treat it passively) is not such a bad passive return in this market, and they are happy to accept those returns for the foreseeable future.

Flipped 4 homes treated it as an investment and paid capital gains.

Just treating people honestly and with courtesy, dignity and respect will open a lot of doors for you.

If you are a serious bird dog, and treating it like a business, you aren't "finding properties" for people per se.

Remember that I'm not a tax professional, but if you decide to set up an LLC, remember that you can affect the tax consequences of your business by electing whatever tax status you desire for the LLC.If you're wholesaling, you'll likely want to elect taxation as an S-Corp, which should allow you to treat some of your income as dividends (as opposed to salary), and avert the self-employment tax on that portion of the revenue.Again, talk to a CPA...and don't take my word for it

Some people evaluate multifamily a little differently, treat it like a larger multifamily or commercial property if you can't find comps.Brian Haskins

.-- Build relationships with contractors and treat them fairly and they'll help protect your interest 10-fold.-- Don't be scared of success!