Some are relatively safe, and in some they set you on fire when they mug you, board the buses like Jesse James and rob every one on board, and there are places where gangs will take control of an entire apartment builing and hold it while they rob everyone in the building.You need to know the good areas from the bad and you need to know real estate law before you start putting your money there.I also suggest that you check into inheritance law if you are going to be a family unit.

Oh, and almost forgot, you're not just going to leave your profits in a safe in your basement, right?

The advantage is that this is clean and easy and you're done with the transaction.

If the home has enough equity in it and your business is ok with the liability of the transaction, heck put the money into it.

It is a safe and reletively easy way to get started.

I think it's safe to assume it depends on the market your in, the harder to find the deal the more profit you make?

In this instance, the lender may use the contract sales price on a purchase transaction, or the existing debt on a refinance transaction, as the as-is value, when this does not exceed a reasonable estimate of value.

Hey, My question concerining the proof of fundsi in a short sale transaction.

I have two short sale deals I'm working on and I've read some posts (Bigger Pockets) that recommend doing short sales transactions under an LLC.

Again it will boil down to the loan policy and how the bank wants to structure the transaction, but it's a matter of loan classifications initially.Going this route on yoiur own without a committment from your lender can put you in a pickle as Susan pointed out above, so talk to your lender and give them a good reason why you need to close in a week (I closed a deal on the second day but had to have alot of favors done to do it but generally, even a cash deal done properly takes more than a week, so what's the rush?)