Once I get the ball rolling with other projects, I would definitely love to experiment with this.

You do need to exercise some care to comply with SAFE act though.But of course, they are buyers, so they aren't renting :wink:

If you are really serious about getting the ball rolling on this project I would be more than helpful in organizing a chapter here in NY.

No actual cash is involved at that point.And, as Bill suggested, you and your tenant buyer should be working with a mortgage pro on arranging the financing in order to exercise the option.

My guy is capable of setting up an entity in any state for a reasonable fee.Now, if you need an operating agreement because your entity will have partners, then you are talking about a whole new ball game.

Violating such these aspect can lead to having your reputation trashed to being black-balled to losing your license.

If you paid money for the option....different ball game..I'm getting my money back at least!

He will be making almost 100% return even at a low-ball offer due to purchasing from his in-laws.So, should I pay someone to perform an inspection on the property prior to making an offer, or not?

The last week has been depressing as we went through a prelim exercise to understand our tax situation.

No deals right now but I would love to have everything in place so once I get a deal I can get the ball rolling.