I know its a bit info heavy but if you want specifics to your given scenario let me know I am located in CA.

It would be located in California, and i found a nice duplex for around $350K.

In California $20,000 will cover the deposit.REO runs from $300k-$20,000,000!

I'm not sure about other states (although I imagine they're similar), this is what California law states regarding the members and managers of an LLC:California Corporations Code Section 17158(a) No person who is a manager or officer or both a manager and officer of a limited liability company shall be personally liable under any judgment of a court, or in any other manner, for any debt, obligation, or liability of the limited liability company, whether that liability or obligation arises in contract, tort, or otherwise, solely by reason of being a manager or officer or both a manager and officer of the limited liability company.

I am in los angeles , ca.

Hello everyone, My name is Luis from San Diego California.

There's definitely money to be made.If you are looking to do lease option flips (not straight wholesaling), I would look at Adam King's stuff, google [REMOVED].

My plan is to use one bedroom as my own little apartment while working here away from my home in California, and rent out the other rooms to colleagues of mine in the same situation.

At that point, I think I will move to California and pay you to be my mentor.I think I understand your investment strategy of purchasing a cash flow positive property with possibility of HUGE appreciation upside.

In California, normally buyer pays 1/2 and seller pays 1/2