Currently not livable because HVAC and plumbing are not in working order. 59,900 List Price90,000 Realtor Provided ARV37,500 our cash offer (no lending because it's not liveable)40-45k - Repair estimate (roof+double layer removal, foundation and sump pump, asbestos siding removal/replacement, HVAC replacement including about 40% of ductwork, electrical panel replacement, plumbing updated from cast iron, complete kitchen and bath, chimney removal, 1100 sq ft flooring, all interior doors and hardware, single garage door, windows and 5 exterior doors, yard drainage issues and tree removal, drywall repair and other finishes, possible mold remediation)$345 Expenses (excluding mortgage) $950 Monthly Rent 

I'm this info can be vital to many investors.  

The inspector stated this could most likely get resolved just by adding a layer of dirt around the house for a few hundred bucks.

Sometimes the municipality adds another layer, so check the website as well.

My cousin tells me that it's vital two would become friends before anything business related.

Knowledge is vital, I recommend finding a mentor and shadow them.

Hi @Nadia White: 1) The seller has a mortgage and will use my down payment and her own cash to pay it off at closing  2) She reported to me that there are no taxes owed (my layer is checking on this) 3) The mortgage company (my lawyer is checking on this as well).

Eventually, with an extra layer of anonymity through land trusts (at the top between you and the LLCs and at the bottom between assets and holding entity).Here is a diagram to help you:And in your case, with partners, I would have each one form an LLC and have the LLC partner - that way problems coming from one of the partners is not jeopardizing all the other partners and assets.I can send you my notes on the whole asset protection question (dealing with structures, transfer, insurance, DOS, etc.).

Vital area, vs.

Also what would give you an extra layer is purchasing the property under market value.