Hello,

I'm entering into the world of residential home flipping and wanted to get all of your thoughts on what you prefer when financing the deal.

Hard Money?

Use your own capital?

Bank?

...

Only way to change this is to get some like minded individuals on the Board and have them change from the inside out.

We will be acquiring it as individuals and would like to hold the property in an LLC for liability protection.

I think that they are a good group that mentors investors, educates, and provides network that aren't any different than other groups or popular individuals.

But those early inventory properties will hit maturity issues, so plan on them.Several mistakes indicated that I see on BP or with landlords.

When I was more seriously about finding deals on the MLS, I would create a search in my farm area that contained any keywords that might indicate a distressed sale (short sales, REOs, investor sales, etc).

@John T.You don't necessarily need money coming in but you do need to show that your business is ready.items such as the below will indicate that your business is ready and you would be entitled to start deducting expenses.1) having a rental unit ready to be occupied2) advertising the unit to tenants3) collecting tenant applications

I want to thank all the individuals who either read, and who commented on my 'wow' topic.

The funny thing is that the lender had the inspection report and appraisal for 3 weeks and waited until today the deadline to review the parameters, leaving me indication the loan would fail or for me to find another lender.

This property was picked up by the seller at a tax auction in September 2013.Hi Jal,You do not say who the seller is, an individual or a bank.