Foreclosures are NOT "off-market" anymore because there's only about a bazillion, INCLUDING BP, who list these "opportunities".

Scope of Work:Initial Assessment: Our team conducts a thorough assessment of the property to evaluate its current condition, identify structural issues, and determine the scope of renovation required.Design Concept: Collaborating with architects and designers, we develop a design concept that blends contemporary elements with the historic character of the row house, maximizing space utilization and optimizing layout efficiency.Structural Repairs: Structural repairs and reinforcements are undertaken to ensure the integrity and stability of the building, addressing any foundation issues, roof leaks, or structural deficiencies.Interior Renovation: The interior of the row house is completely renovated, including the removal of non-load-bearing walls to create open-concept living spaces, installation of new flooring, upgrading electrical and plumbing systems, and installing energy-efficient fixtures and appliances.Kitchen and Bath Remodeling: The kitchen and bathrooms are transformed with modern finishes, custom cabinetry, quartz countertops, and high-end appliances, creating functional and stylish spaces for daily living and entertaining.Historic Preservation: Special care is taken to preserve and restore original architectural features such as exposed brick walls, decorative moldings, and hardwood floors, enhancing the property's historic charm and character.Exterior Enhancements: The exterior of the row house receives a facelift with fresh paint, repaired masonry, restored windows, and landscaping improvements, enhancing curb appeal and contributing to the overall aesthetic appeal of the neighborhood.Quality Assurance: Throughout the renovation process, our team adheres to strict quality control measures and standards, ensuring that workmanship meets or exceeds industry best practices and building codes.Finishing Touches: The finishing touches, including interior decor, lighting fixtures, and hardware, are carefully selected to complement the design aesthetic and create a cohesive and inviting atmosphere.Timeline and Budget:The single-family flip project in the Philadelphia row house is estimated to be completed within [timeline], with a budget of [budget].

You will need to work with a tax professional to analyze your current tax situation (income, deductions, activities, etc.) as well as projected income from the fix and flip business.The benefits have to outweigh the costs (payroll costs, additional tax returns, more stringent reporting and compliance requirements, etc.).One important note - an S Corp is not an entity; it is a tax election.

This team should include professionals like agents, lenders, contractors, and property managers.Lastly, connect with other investors and attend local REI networking groups and meetups.

Subsequent steps include credit assessment and, upon agreement of terms, submission for underwriting.

I would look at the ROE differences between what you can make now by selling, including the yield on that lump sum if reinvested in the current market conditions, versus what the property will be worth at a point in the future (5 years, 10 years, etc).

Hey Sheila, We would screen everyone 18 and older so that would include the wife. 

hmm...well, as someone who has 20+ million in warehouse lines of credit I do know that it would still be fraud not to include those loans on the application/quarterly financial statements that are required for business credit. 

At least it sits on their credit report and prevents them from scamming another landlord or qualifying for a loan.

That loan will have some bank hand-holding that people dislike (annual reporting requirements for the first few years, all rent checks must get deposited into an account at that specific bank so they can see it coming in and have an automatic "early warning signal" if they drop off, etc), but hey in their case I'd say it wasn't unwarranted, their only track record is that of mismanaging after all.