Regardless,  HML's should typically be utilized for short term projects ~6 months since you're typically structured as interest only so take that into account.Also, some banks will take 6 contiguous months of rental income as proof of income for a cash-out refi.

R.C. 5313.07 is a key Ohio statute for RE investors.I always advise my clients when selling via owner financing to structure their deal with that in mind.

I forget what it is called) to determine if it is structurally sound or if it needs replacing.

@Ram Gonzales   you want to be careful couching your self as loaning money then switching them to JV in the structure you delineated.. this can be construed as bait and switch and the JV partner can make a claim that this is really a loan.So if its JV deals you want to do NEVER mention that your lending money because your not. 

However, the transaction can be structured as a 1031 Exchange upon the close of the sale today. 

I am asking the seller for credit towards anything safety, structural, or code related so I am only asking for 4000 of that and him to reduce sale price to 91000.

The only time I need to hire a licensed person is when upgrading to a breaker box or doing structural work like adding a new floor beam.

There is an article about interviewing Cash Buyers first, saving your direct mail marketing money, and knowing exactly what they want, where they want it, and how much they will pay.Interviewing Cash Buyers I think is a great way to "AVOID direct mail hit and miss" and "getting the deal first and cash will come" is not always true.Finding people that bought all cash with custodians I think is a great idea.Custodians are companies that structure paperwork for self directed iras.See http://www.biggerpockets.com/blogs/3/blog_posts/40...

I had to have a structural engineer come in and make recommendations. 

Back in August I purchased my first rental property, a four unit brick structure.