I'd be much wealthier than I am.JoffreyBrother Mentor Joffrey thank you for your words. . .and also the OP Deborah B. for bringing wisdom to the table and George Paiva and Joel Owens for opining on sage experience.Maad Props to Ned Carey also, this is the best and brightest use of this medium, the mindshare that protects noobs and experienced alike from the shyster, the unscrupulous, the hustlers out there.Well done, Deborah!

This means that it is a "pass through" entity, to your personal tax return.The thing I still wonder about is that the OP wants FHA funding, which is usually a sign of very few assets.

Btw, here is an answer to the OP's original question:http://www.biggerpockets.com/forums/311/topics/73160-primer---estimating-arv

I'd also be surprised if he get's any case law leads on BP.This somewhat relates to the OP's question and it's something I've always wondered about.

The OP has not gone the eviction route - yet.

Also the SBA site has a bunch of links that enable entrepreneurs discover information about topics such as those the OP mentioned.  

The OP says people want to attack, etc...yet they post they want to enter into contracts with no intention of buying and want to get out of them if they cannot assign them.

This was in response to the OP that  I would take a VG reit any day of the week to invest my IRA money backed up with multi-tenant triple A rated properties rather than invest in a $2000 non-performing second with a face value of $10k on a busted up 3 bdrm 1 bath house built in 1940 in some small rural town I have never heard of in Alabama valued at maybe $30k all fixed up.

Since the OP is in PA, I suggest finding that standard PAR Agreement of Sale and using it with a contingency on inspection as a minimum (to check the plumbing), but I think the OP seems new and should probably have a few more contingencies.

NA BeardThe OP is in Canada ... 1031s are not applicable.I would also suggest CAP rate is of marginal utility when buying.