You will want to educate yourself on the rules, as the IRS is very strict about certain things such as prohibited people and prohibited transactions.

and it's fixed for 30yrs               - Some people will mention that the private mortgage insurance is prohibitive to getting the loan, but I just look at it as being part of the total monthly mortgage payment, so it wasn't a deal-breaker for me.Cons:- 3.5% down payment (lol....)

Specially when I have a property under contract, which states I can list the property on MLS when the seller signs my contract, this gives me the exclusive right to purchase, hence the seller would be in breach of contract to sell to anyone else.I need a broker who can work with properties under my contract and list and sell through MLS.This is not prohibited although most brokers policy is not to list if the seller is not the owner.Yes I've done this, yes my attorney has closed transactions in this manner.My sister is an agent although in poor health so if you are an agent who's Broker will work with me we can split the commissions, also I have many sellers who are looking to sell at retail prices.Contact me as soon as posible

Now that the city of Minneapolis has passed the ordinance prohibiting landlords from rejecting applicants on Section 8, do you think this will have much, if any, impact?

My issue, my mortgage company Wells Fargo will not let me Refi as the mobile home is on the property, moving it is cost prohibitive, 1st I have renters with a two year lease second it will cost about 6k to move and store.

Would love to find a mentor willing to help me out, although I believe requesting one is prohibited by the site.

But aside from that, if you wish to make the change by simple addendum I'm not aware of any prohibition.

Most are not willing to do this because to do so effectively either cuts into profits, or is cost prohibitive for the owner.

We have been doing this on land deals since the early 80s.. did not invent it.. but we followed the auto industry.and the other reason I did it is I had some Saudi clients that were prohibited from paying interest so I just backed into PV values and they were good with it.We paid our imputed interest.. but you usually get a nice price for the asset.and I can tell U the investors I sold these property to are happy campers as well. the houses did not cash flow and were maybe negative but now 3 to 7 years later they are free and clear and they paid NO interest which is money they cant get back..

However, for single family homes with NOI's of $7-12K/year, spending an extra several hundred on each one to have it in its own LLC is cost-prohibitive.