We will group our hold properties in asset sizes that we feel comfortable in an LLC.I need some guidance on our flipping entities:I have searched, talked to a few lawyers and a few different investors and the best advice I have received (in my opinion!)

I have subsequently had several consultations with the lawyer they set me up with and have been happy with his advise/services.

Before you engage in such a transaction you MUST, MUST, MUST hire your own lawyer to be sure you understand what you're getting into.

If you've found a niche that can generate these returns consistently in volume I think you have to ask yourself if there is a reason why other investors are not pursuing it.Some reasons that would keep me away: impossible to manage effectively, impossible to keep occupied, no consistent rental demand (or tiny rental market).

Probably more cost effective to demolish rear and close it up making it a two bedroom one bath.

It had actually been tried before, but number of problems need to be solved to make it effective.

Anyways, for this deal the owner reviewed the paperwork with her lawyer brother and decided to bring their own lease document which says that I can bring in tenant buyer if I already have one but otherwise she will not sign the lease option deal and allow me search for a tenant buyer.

Or maybe those people are lawyers?

Bill for a starter why do you think it is necessary to organize as a not for profit to operative effectively in this market?

I made sure that my lawyer had adressed the pet policy in the lease and via text notified the tenant that we needed to ammend the lease because there were more pets on the property than we'd accounted for.