As of yet my own direction in life had not been firmly set and meandering from one poor job to another finally arrived at a startling epiphany.

Dur to so much conflicting advice I am scheduling a live strategy session with a firm specializing in entity formation strategies, legal aspects and tax advisement for real estate notes.My communications with multiple custodians, attorneys and asset management firms has been informative but confusing.

Since the new law has passed, I’ve seen lots of offers from places (law firms, brokerages, investors, etc) that offer workarounds to the new law, but in my opinion, the only guaranteed way to not break the law is to be licensed.

The best-known attorney in this field is Jillian Sidoti of the firm TrowbridgeSidoti (Disclosure: I have no direct knowledge of her or her firm and have no financial stake in promoting them)

The moral issue, as well as the reputational issue, also must be considered.Often, the seller is left with the impression that he has a firm deal.

Obviously getting a contractor to give you a firm price is the best way (if you can scope it well enough so you don’t have a ton of change orders).We also decided to do some work ourselves to cover some unexpected expenses & we got super creative with some ways to cut costs but not quality.

I had an engineering firm draw up plans for another 4 potential lots on the land, which may be a good exit strategy.

I had an engineering firm draw up plans for another 4 potential lots on the land, which may be a good exit strategy.

Having a variable for unknown contingencies is normal but in the future have a detailed agreement specifying a firm bid, what is included, and the hourly rate for what is not included in the event rot or other issues are uncovered.

@Tina TrussoniSome accounting firms will offer coaching services to help get your books and records organized.