Should he desire a loan, the owner probably has the ability to quickly borrow from his favorite lender.

Getting things done is all about tactics, connections, trust, experience, knowledge and knowing the battlefield while having the ability to win if there is a battle ......what's that worth?

The process is very easy and fast.Buying the program is very economical at Sam's Club.Some leasing and loan servicing software programs have the ability to export information to Quickbooks.I am very good at working with spreadsheets, but always use Quickbooks in the situation you described.

Over the past 5 years I have seen industry & population growth in Columbus explode, and effectively it has raised our housing prices.I started investing in Columbus OH about 3 years ago, with an FHA loan.

So your $6k out of pocket gets you a C Corp and ability to use retirement funds to buy stock in your C Corp.The things I did not consider:- You are an employee of your C Corp, so if you hire any employees you need to extend many of the same benefits to them that you receive, including participation in retirement plan- If you hire employees you need to offer them the option to also use their existing retirement funds to purchase equity in your business- Possible advantage of LLC over the C Corp- Once you sign and speak with your assigned independent counsel they will advise you on the increased scrutiny you face with IRS, need to keep additional records and document corporate meetings, etc.If I had a more complete understanding in advance I may not have gone this route.

If the sale price is lower than the amount owed you might find out how the seller intends to do that and ask for verifications as to his ability to cover it.

You would have to meet the 2% rule and get lucky on the 50% guideline to meet your objective but it is do-able and without any appreciation The rub is that in order to sustain that level of growth on a compounding basis you need to re invest the income at the same rate and also you need reserves.

I think the property would be worth 25K and possibly 30k when done but right now I am not confident in the ability to sell anything until the retail market comes back.

I would take that 250k and buy a business that has a good growth trajectory.

These are areas that a lot of people are moving to and experiencing a lot of growth but they are no where near following the 2% rule.