Margo Roberts , Todd Miller lives in TX where there are strict rules on lease options.

They are just like bank owned but a littlemore strict, not as bad as HUd

As Account Closed has shown in the link, there are some regulations in place preventing you from routinely using an FHA loan to flip properties.It's my understanding that FHAs are for OWNER OCCUPANTS.

Structuring the LLC the correct way and labeling yourself as strictly a passive partner that really contributes no actual management or active participation on the business would allow you to avoid self-employment tax. 

.-  Even though FHA doesn't have the restrictions, they are now more strict about ensuring that the renovation has verifiably increased the value of the property. 

I'm hoping "in service" would mean after I've applied and paid the fee as the repairs were to bring it up to rental code inspection ready, more strict than owner-occupied.  

IF you have someone that is competent in all those areas I'd go with a strict fee basis.  

After strict rules per imposed in April of this year by the FCA, approximately 100 of Britain’s top 210 have stop offering payday loans.

I'm not sure if its strictly legal, but if his plan/only course of action was to get kicked out, you could get it under contract and market it, then close after the BK was dismissed, plenty of cash buyers (that do volume) would be OK with that kinda thing, they'd just have to revisit their numbers if it goes past 30 days.

And yes, I was strictly talking about cash flow, not net negative taxable income.