We would have to figure out how that would function properly together, as a group.

Include quarterly inspections in your lease with proper notice (based on your state/local guidelines) regarding the notice you must give your tenant.

I have found an assumable loan from a home owner in E.

I want my properties to be in proper working order from top to bottom and if something isn't working I would have a plan to take care of it prepared.

@Carolina E: thanks and will do...

For me the choice of getting an LLC was for 2 reasons...1) you do not have to fill out a Form 593-E, Real Estate Withholding – Computation of Estimated Gain or Lossat closing time.

Kinda hard to have half a house on one lot.....As a renatl, or owner occupied, a patio home can work well, I've had both sides and sold each, but one side would be fine if you have proper zoning and filed agreements concerning shared aspects of improvements.

When we were getting our start we talked to several VPs of commercial lending, and having actual numbers when presenting our business plan to them was helpful in showing them that we had done our due diligence and were capable of conducting proper analysis.

Hey BP,I'm encountering a lot of leads who have high equity in their homes but the current value is a lot lower than what they purchased it for, so they are reluctant to sell at a price that works for me (60-75% minus repairs of market value).My question is, is there a strategy out there to try to convert these leads to a deal or is this just the way of the land and a deal will come when proper motivation is present?

If you purchased owner's title insurance but did not get a copy of the title policy in the mail, the company you purchased it from will be stated on the HUD-1, and file a claim with them asap as I think the lender commitment documents stated they (and I) had a year to file if the closing wasn't done properly.