If you're really interested in creating a new business, use those HOA dues to make a new investment, maintain it yourself, and forge your own success - it will be well worth it.

His father was a prominent positive politician and they have legitimate business dealing with their government as well.

I have never done direct mail before so I’m not positive on the steps to take besides where I want to send it and what good areas are.Thanks in advance!

I have found myself in a similar position with a acquaintance who knows ALOT about house work AND has the contacts.

If you buy anything turnkey multi in the areas discussed, you will be paying a huge premium and very doubtful you have any positive cash flow. 

What are some positives you find about REI outside of your local area?

If he cannot explain the reasoning behind the position, seek a second professional opinion.If the reason to setup an S corp is to deduct your unreimbursed employee business expenses for your full-time job, that is likely wrong (I don't have all of the facts) and would not hold up under audit.

It is imperative that you maintain control of your own project costs and hold the majority of the leverage, which is why I would suggest holding back 5-10% retention on each milestone payment until project completion.

., replacing parts to maintain value.There is *cap ex* (capital expenditures) to make improvements. 

My wife and I find ourselves in a position that we have a home valued at 400k.With an outstanding mortgage of 145kCurrently my wife’s parents are on the loan but have no interest in the equity.We are considering a cash out refi and using 100k to put down on another home in the future and then renting this home out.