From building your database and different ways of expanding your client reach to tips on how to conduct a transaction to the physical paperwork-how are you going to learn it?

There is a lot of paperwork required to get a 203k loan so make sure your contractor understands that and is on board.

When you couple this with a monetization loan, you can essentially defer the taxes on the capital gains for 30 years while still getting cash at closing that can be redeployed elsewhere.

Dealing with the banks and all the paperwork.

We're now learning that in IL there's also a partnership replacement tax that is essentially 1.5% of NET income, due each year.

They will help the contractor with all the paperwork, that can get approved through the lender. 

The law also used to state that once a homeowner had an A6 mortgage, any future refinances would also need to be recorded as A6 loans, IE, "once an a A6, always an A6" (essentially making getting a HELOC impossible).  

The first two are obviously real estate related, and the other 3 are more mindset related but absolutely amazing and essential to success!

For example, you can't represent yourself as an entity, so responding to frivolous lawsuits or even filing routine legal paperwork will require shelling out much more for an attorney to do it for you.And then there are the hidden expenses that everyone's mentioned.

@Dan Mann Hey Dan I don't know a whole lot about that but I was looking at a similar plot property in Florida to me that seems really good and especially if you can rent the storefront to somebody who also is renting from you as their business that wouldn't possibly work really well I've seen it done I don't know if there's any legal paperwork you need to go over but I would definitely contact commercial brokers and ask them