For outside asset protection our law team recommended an S-corp be formed to stand as general partner and investor(s) as limited parteners.

Hi @Thaddeus S. !

I usually have that age vintage in the 8's or 9's.They have and incredible amount of operating expenses with vacancy.28 units managing from afar does not allow proper structure in place for a full time manager and maintenance person.They have at about 61% but if other capex or problems are coming that cap could go to a 6 etc.I do not know that are so if it is in an amazing area and sitting on a bunch of land the dirt might make up for it.

Some times depending on the question(s) the agent may need to get back to you.

Here's an article I wrote on the topic for the October Real Estate Assoc of Puget Sound newsletter.https://www.dropbox.com/s/n4mhbjg6jjmkd1a/Do%20I%20have%20to%20be%20a%20GC%20in%20WA.pdf

Originally posted by @Eric S.: The great thing about a mobile as opposed to a stick built, is that if the home has settled or is no longer level, get under there and shim it up.

The inventory is now down to a more normal level and I spent a great deal of time in 2013 planning my business next move(s).....which led me to concentrating on flips.

@Darieal S.

Now he can go to a vacant lot, hover up to various elevations, do a 360 and take pics.

Hey Mike,Make sure you do your homework if they do "gift" you the amount.Unfortunately there are limits on how much a parent/s may gift their children without triggering gift tax by the IRS.The IRS is the last entity on earth that you want to have future issues with.I would seek advice from a tax professional BEFORE making a final decision.All the best!