They have replaced roofs, made energy efficiency updates in the basements and even done substantial rehab work within some of the units.

It depends on the lender but 6-12 month seasoning period and you will need to keep 25% equity in it for most banks.

If I were you, I would continue flipping the higher value homes that fall in your lap ($150k + homes) and keep the lower value homes ($80-150k range) for rentals as those will provide a more stable/consistent cash flow over a longer period of time.

., investors) tend to be more sophisticated in Atlanta than in other places, so marketing to landlords tends to be less fruitful (in my limited experience) than other forms of marketing in that area.My recommendation is to focus your marketing on homeowners with equity, whether distressed or not, and try to find locations where prices are trending up faster than homeowners recognize (so you can take advantage of some quick appreciation during a short hold period).

Read Your contract as it should be crystal clear about this, but my assumption is that's what the "attorney review" period is for.

The purchase price is so minimal that interest rates, etc, barely put a dent in the pocket so I'm comfortable financing while using most of any potential rental income to just put back towards the mortgage to have it paid off in a much shorter period.

From what we have gathered , it seems that the most tax efficient route is to hold long term investments and short term investments in separate entities but we aren't sure which entities to hold them in (LLC, S.

We also have a little higher turn around rate (a double edged sword) but we believe this allows us to better keep pace with the market, minimizes potential for damage, and demands that we be efficient in our management (a good discipline for the future).Any more thoughts?

BTW, I usually have tenants sign a one year lease, but switch them to month to month lease if they have been late in paying rent or if I filed for dispossessory at least once during the first one year period.

Here is one of them:http://www.biggerpockets.com/forums/51/topics/113518-dodd-frankSome states are a little more flexible especially for one seller financed deal in a 12 month period but I believe California does not have that excemption.