Leaving consumers handing over thousands of dollars spent on a job that wasn't completed.

Even with flipping if you use hard money the lender will want skin in the game ( money down and points ) to do the loan.The reasoning is if the rehab gets tough the HML wants it to be painful for you to walk versus just handing it back to them.A good contact for flips is J Scott on here.

Sounds to me like this is not about them, it's all about you getting your hands on thier house.

Capital and equipment.If the gross receipts and profits come from items 2 and 3, then that should not be associated with the shareholder-employees personal services and not be allocated as compensation.On the other hand, if most of the gross receipts and profits are associated with the shareholders personal services, then most of the profit distribution should be allocated as compensation.It seems to me that if you use a S-corp, pay yourself only a small salary, and are very actively involved in your flips, the IRS can step in and reclassify most of your pass-through as wages.

I ended up writing all my ten year projections out by hand.

Thrift store furniture will not work and neither will old hand me downs.

Marc can certainly answer that, I'll give him room to do so.Dawn, part of it is the old a bird in hand is worth two in the bush, a limp sum today today is worth less than receiving payment or that sum in the future, and future payments being paid in cheaper dollars.

:D I want to be really hands on for my first flip, and the next one's until I feel comfortable.

Almost unbeatable.One of my mentors, a highly succesful real estate investor and entrepreneur, once suggested to me that if you have $50,000 on hand, invest only $25,000.

I would like to have these on hand before jumping out there in order to review them and understand them myself.