A local attorney will also explain to you what practices and procedures you must follow in order to be sure the LLC (the LLC won't do you any good if you don't know what you have to do to maintain the protection it is intended to provide).

Have you set up your company as some type of corporation to protect yourself? 

Hi BP members, I have a question that needs some expertise from the forums.

Have you formed your company yet as a corporation to protect you personally?  

Donn, your profile says you are a RE broker from LA ... why on Earth would you be doing anything other than taking advantage of your license and local expertise by investing in LA RE?

I know this might be a long shot but I am looking for a flexible broker with investing expertise who is willing to make me part of his/her team considering my current situation.

These contracts can be skewed terribly in favor of the Owner so that he will foreclose on you for any little hiccup, so protect yourself right the first time and you will know what to look for on subsequent deals.Diligence on the property needs to focus a lot on the well, the septic system, and the mobile home.  

There used to be a federal law (Protecting Tenants at Foreclosure Act) that addressed this issue, but that law expired at the end of 2014.

Although I am currently focused on flipping, this is something I wouldn't mind pursuing alongside and gain expertise.

I am interested in opening up a discussion on how we can be like the bank and make sure we are protected from a lawsuit.Regards