Also, try to get an estimate for a flat fee for each entity formation.

I hate big banks and flat out love raping them when they screw up and I can make some money. 

In essence, you'd end up paying likely 0% to 15% on your income versus the flat 30% withholding. 

You make a good point...so I have this questionWhat is the best approach with Owner Financing in an area that is flat or in decline? 

One more side note...some areas may require special permits for Single Room Rentals or may outlaw it altogether so make sure you look into that.

That finance company will need to employ a MLO or you or one of your employees will need to get licensed as an MLO.I would do nothing about the existing loans until you had the proper licensure and had the company set up properly which would include a Compliance Management System as required by law.My final though is you should not buy these loans without a very deep discount, and if you are not planning on generating 12 or more additional loans a year through the park purchase and/or more land home loans, you should pass altogether on the land/home portfolio.Chattel lending and land home lending are two different animals with different legal protocols and documents and interest rates.

Reading here and doing research is the only reason I’m confident enough to consider getting into rental properties (and hopefully build long-term wealth).I have found a property that I’m interested in and I’m curious to hear if you more seasoned investors would go for it.I know it’s impossible to know online, but I’ll give you everything I know: 2 Flat – both 2 bed/ 1 bathListed at $119k, realtor indicated that there’d be some flexibility so I’m hoping to get it under $110k.Estimated Rehab $15k (I’m going to firm this up significantly before closing).Rentometer says fair rent is $900/unit.My gut knowing the area is that $700-$750/unit is a safer estimate.Taxes of $4,600Tenants would pay utilities, but I’d probably hire a lawn cutting/snow shoveling crew.Visibly looks like a single family and surrounded by other SFH on quiet street near pretty good schools.A partner and I are able to put down 25% and pay rehab costs up front.It’s in an older, but relatively stable southwest suburb of Chicago.Taxes suck in this town, but otherwise it’s an appealing town for me to be in.If anyone has thoughts I’d love to hear them.

I am thinking more like buying a single flat/apartment or house.

We are looking for a tenant/buyer and would love to see what you guys think before listing it on MLS with a flat rate.

I've had a friend work with a local Realtor here in the Phoenix area who charged a flat $400 fee to list the property on MLS.