Hello, I have a STR in Tierra Verde, FL.

The title company/closer will prepare the deed.BillIf you do a land contract you will alos want a quit claim deed, if your state allows the deed-in-lieu-of-foreclosure in the event you buyer defaults.

I'm currently a Los Angeles resident, and I have always loved real estate!

The only advantage you would have going the building route would be to create something very unique from scratch.I've done full gut jobs in about 1 year versus 3 years for a build from acquiring the land to listing on AirBnB.Buying a distressed property at a bargain and doing a full remodel would be the way to go, in my opinion, and for my market (Sedona, Verde Valley, etc.)

Meet 3rd Monday of month at Embassy Suites in Greenville on Verde rd.John

Im told The federal don't have to follow the same rules like the state so your going to have a LO who is on thier best behavior if they are state licensed.

There is alos HOA fees, poperty taxes, ect.  

Keep in mind that while there are certain advantages to this classification, their are alos disadvantages.

Tracey, ignore taxable value, it means nothing to you right now as far as using it to judge value of property.I too am alos stunned that a lender would even think of lending on a current negative cash flow property.

And I also have a property management company that only manages my own properties which is 239 units total.I am also a Los Angeles contractor and I do Soft Story Retrofit work.