I'd like to do this without the final buyer seeing how much I am making on the deal.

Finally got a call back stating that the bank had still not signed and that they were not responding.

So don't look at what the market is today look at what the saturation levels and pricing will most likely be when you come to market with a finished product.Don't be too rosy in your projections.This is what killed many developers who used high leverage and bought in 2007.They overpaid for the old building or land,used too high an ltv (90%),and had high rents expected on the cash flow which skewed the projects anticipated returns.When things finally came to market debt service was high and rent income was low and many developers with non-recourse walked.Today everyone wants to nail you to the wall to lend any money so you have to be ultra conservative in your numbers.

How can you help in the various phases of real estate investing (acquisition through sale)?

I need to finally pull the trigger on this.My pertinent info:-I own 3 rental SFR properties, all free and clear :D worth approximately $450k-I live in a 4th property which is mortgaged-I live in California :/-I also have a regular jobPrimary goal: asset protectionSecondary goal: increase tax advantages above and beyond my current sole proprietor statusAs a side note, I would also like to hear your thoughts on LLC'ing in wyoming/nevada/wherever else you can think of and how that model would or would not work in California as a foreign corp seeing as how "strict", for the lack of a better word, it is here in California.My entity/entities of choice would protect me from inside liability as well as outside liability.

Hi, I've been enjoying this site for months now and finally signed up.

Should I calculate pro rated taxes paid at closing as a acquisition cost or part of my yearly expense?

Here is why: The property's market value at acquisition and the property's market value upon exit are two different numbers and they are only different because of the dollars you put in to make improvements.As in Eric's example, if such a thing were true, nobody would put any money into the deal and sell for profits on a rehab.Don Hines I would have to disagree with your assessment as well.

Finally, some sanity.I've written numerous times here that I think a house you live in is nothing but an expensive doodad.

But we're still filling new acquisitions/vacancies fast.