Fast forward 6 weeks, and I've just signed the P+S on a three unit, 3000 sq ft multifamily building for 655k.

", to see how bad it can get if you continue with this deal.My only advice is to use one of the "out" clauses in your P&S contract to NOT cose on this unit.

i'm not sure where it's at, but there are posts on here that go into a bit of detail on llc's and s-corp's.

I remember reading in someone (maybe Groucho Marx's) autobiography, about getting stock tips from a shoeshine boy and an elevator operator prior to the 1929 stock market crash.

I am not clear on lease options, quick sale, assumables, assignment on contract.....LLC, S Corps.......it makes my head hurt.Any comments?

You should have an S-corp for the rehabs that you flip.

With your name on a P&S, or better still already on the chain of title, NOTHING can happen unti you say so!

Rates on the 5/1 ARM are currently in the mid 7's.$5,000 Down, Investor and Builder Spec LoansIf you don't already have a property in mind there are some featured on the website, but we have a lot more that aren't on there.

I go into some homes that were built in the 40'sor 50's and the original owner is still living there with everything original in the house.

You have numerous RULES to live by, that your tenants may refuse to live by, (so write in the contract that they have to or can be immediately evicted)You have to keep all dues paid up, or you will be fined, and quickly could lose the place to liens and foreclosure.Minna's right, s SFD is a lot of work, but if the place is in good condition, and you have the insurances, it's not a big deal, probably.