You will also face a DOUBLE WHAMMY of properties being "over appraised"....You also have to be EXTREMELY careful with any property that shares a border with Detroit (i.e.

I think there may be someone with yurts out Ojo de la vaca road doing something similar, but I'm not sure...

This is not true for every state...Delaware state, for example, requires a closing attorney.For a standard single family or small multi-unit generally there is not a major need for legal counsel but depending on the complexity of the transaction it may be advisable to consult an attorney.

I am looking to connect with members that are investing in the city of Wilmington DE.  

Thanks for your responseAfter doing some research I found out that the property does need a little bit of cosmetic work I'm doing a walkthrough this Sunday so I will have a better idea of what work needs done the property was once a double that was de-converted, also there is a lien on the property of about 18k which raises great concern, seller says they will take care of the lein at closing.Thats all the info I have for now until Sunday.

@Manuel De la llata Some people use joint venture contracts but at the very least if you bring the deal make sure your name is on the P & S

She followed Wendell De Guzman and thought he was a great BP poster.. well you know the rest of the story.. invested..

I am looking to do cash out refinance on these non warrantables condo to buy more properties but I am having a  difficulty in  finding  lenders who can do that as I have high D/E ratio ( due to high number of financed properties ).

Are you sticking with your local state or using another that may have less costs and more advantages (Nevada, Delaware, Wyoming).I suppose if you had to foreclose on something (if you held the note) , or you obtain the property thru tax lien sale, you'd have to register your LLC in that particular state.

Being on the North side of the border (assuming most of you are from USA), I know that it's a good option to look for someone to partner invest with especially if I'm looking far from my local area.