Just some food for thought for those who invest in mortgage notes and think buying seconds cheap gets you in the business at a low barrier to entry  - it is cheap until you have to reinstate or payoff a first lien.

There is no such thing as FREE college, FREE food, FREE housing, FREE health care.

What kind of loss are you talking? 

So the financial institutions get a better return  on there losses.

And always remember evictions can cost typically 2X-5X than CFK's - But your time is the most valuable LOSS in this all!  

Additional question would be, can the SMLLC build the house at a discount (taking losses for the business)?

I know if I sell I would take a loss.

Operating Agreement: This document should outline each partner’s investment, share of profits/losses, decision-making authority, and exit strategy.

No licensing required in Texas which is why the food handler at McDonalds can tell a seller that they're a cash buyer. 

The client was saved by having diversified, and came up positive on his other DST's so it was a net zero loss.