If the developer goes out of business you have no guarantee.Third, the supply could exceed the demand so that after two years there is little rental demand at the guaranteed level.Fourth, your home is at risk if you pull out cash and then later can not afford to pay it back.Focus on reading here and learning your local market better.

Hence if you find a good RE attorney who works on the tax aspects of complex commercial deals they will either offer estate planning services or have someone in their office that handles the tasks.

He focuses on offices and multi-family properties now.

The recorder's office can be a few weeks behind in recording transfers.John Corey

Try to uncover any unknown information.Example, I have had to go to the county clerk's office to look at a deed on a REO so I could find out about the hidden 2nd lien.

We really haven't done anything offical but we are two very intelligent and motivated people with about $50-80k capital to begin with.I'm looking for any advice that you can offer us.

We also have an in house loan officer licensed in all 50 states who does loans for those who need them ( however its not mandatory to use her).

This is how the Loan Officer from the bank structured it though...

Ive never flipped a house before, I have no idea what supplies and materials cost, and I dont know what's a good price for a decent contractor.

When we bought our last primary residence in Houston the Realtor and loan officer looked at us pretty funny as the purchase price was about 83% of one year's GROSS INCOME.