As a general practice, we do not refinance unless we absolutely must {sometimes you really need want that 18-unit building} or there is an obvious advantage to refinance {i.e. we can secure a new interest rate 0.4-0.5 below our existing rate}.

He made $7k on a $77k wholesale flip to me, and I made $21k selling it simultaneously to a songwriter friend of mine who in turn listed it with me for $135k.

With the potential ROI numbers buzzing through my head, I couldn't see any reason not to take this offer; so I did.Now that some time has gone by and I've generated practically zero prospects with my land FSBO listing, it's beginning to dawn on me that this land is probably not going to sell without some more money and work on my end.

From a practical standpoint however, I am the property manager of the ten houses we own.

Is that common knowledge and practice, I doubt it.I'd try to have a good reputation in a small town if I wanted to stay in business. :)

Much of this can be learned, but skills only come from two things, ability and practice. :)

Christian, after I get past my first property and want to put additional ones under an LLC do you practice in real estate/contract law?

But, if you're doing it for practice then approach the seller, explain you have some investor buyer and decided you don't want to hold the property and that you'll pass it on to your buyer.

In practice, I have been doing both (1) and (2), and attorney is comfortable with (2), though I know that Bill doesn't like the approach, and he makes some good points.

Thanks, Paul @Paul C,As a practicality.