I would recommend an LLC with an operating agreement and I would get a lawyer to draw everything up.

Heather, Here is how I see these deals: Deal 1: Gross rents: $1,650 Operating Expenses: $825 NOI: $825 Mortgage: (30yr, 7%, $129,900; NOO): $864 Cash flow: $39 LOSS (OUCH)!

The $1500 operating expenses are things like taxes, insurance, management (even if you do it yourself), maintenance, advertising, office expenses, utilities (even if only during vacancies), legal fees, evictions, damage done by tenants in excess of the security deposit, etc, etc, etc.

According to Marcus and Millichap apartment complexes are still holding as long as they can make it through the toughest year we will face yet in 2009 I quote from their website: "The challenge will be getting through 2009, which will require exceptional tenant retention, aggressive marketing at the property level and an unwavering focus on operations."

NYFD, NYPD, and all the ferry boat operators also did a great job of getting everyone off quickly and safely.

Just recently, 2 weeks ago, I learned about the co-operative assignment with lease options.Very easy it seems and the profits are pretty good..not as much as a normal wholesale type deal, but easier to do and can happen more frequently--I don't see 3 of these a month as being impossible to do!!

We knew we had to replace the operating hardware that is a scissor type arm with the rotating handle.

Anyway, we both allot our extra paycheck money to our business operations and marketing so that we can do a few deals to make the cash needed to buy and hold for wealth and cashflow.

Your credit history, credit score, dscr, debt to income ratio, possible experience (depending on the investment), and the financials on the investment including, but not limited to, gross income, loss due to vacancy, all operating expenses, capital expenses, net operating income, debt service, and cash flow.

Reason number 470 why all banks should be closed under the RICO ACT for operating an ongoing criminal enterprise.