A 30 year assumable note maturing in 2036 for 1.7 MM +/- is available as part of the financing package.Scheduled Gross Income$545,100Effective Gross Income$523,296Net Operating Income$236,250Asking price is $2.5 listed for nearly a year, investment "group" disolving

I am having a dilemma in finding a cash flowing property in Socal within resonable driving distance from my work..most everything is around 450k-500k for a 4 unit and being an owner operator in at least 1 (FHA guidelines) isn't going to net me cash flow...I have been getting very anxious because I fear I won't be able to acquire something that will be a good investment...

This seems to be a case where your operating costs are much less than 50%?

With Fannie Mae/Freddie Mac, and the banks loaded with delinquent and vacant properties, the idea was to sell huge blocks of properties to institutional investors to be put out as rentals.

She owns it free and clear (maybe owes last year’s taxes) and we want to off load it.

Joseph M very good point on penalizing you on taking money out @ predetermined dateJoel OwensThanks for the info on clients exiting market to commercial.Dave Savage Thanks for the Podcast suggestion.I think lots of people become millionaires paying off their homes over time or paying off a property that they operate a business out of.

Not sure what guru said you be an investor or operate in RE with no money, but they really lied, you do and will need money.

Since I grew up being around them more than half my life, I've seen a lot.Due to certain market conditions, cities, municipalities and counties operate differently from one another.

Make sure you understand every sentence in that Operating Agreement, best way to do that and devise a good one, for free, is to get with SCORE. :)

Just be careful of dealer status with your flipping scenario.Apart from other issues the IRS auditor didn't like another LLC being paid management fees but it passed after scrutiny (including the operating agreement etc) along with the rental by the S-Corp of LLC owned office space, tools, mileage allowances etc.