But a buddy of mine has done this for the last six years like clockwork. 24 months and on to the next house.A little caution on starting a rehab with little secured funding.

Granted you would likely lose ownership of the LLC so you would lose all the assets.If the LLC was sued and many of your assets were not owned by the LLC then you might continue to retain the assets outside the LLC.The idea is the LLC is not you and you are not the LLC.

Do you have a contract in place to secure 3%?

Granted, we're very careful about buying, but we'll buy to flip if the discount is there.

You don't say where you are; but I can tell you that in TX it is standard practice on a "foreclosure" (actually a trustee's sale) to issue a Special Warranty Deed, because the trustee was issuing the deed as a function of their obligation under the terms of the Deed of Trust.An "owner" selling would issue/sign a General Warranty Deed, however when you delve into what is being warranted under the terms of each it would be impossible for a trustee to sign anything other than a Special WD.I'm guessing you did get title insurance with this.You did get a "Warranty Deed", granted a SWD with this purchase.

Then you are a creditor secured by a lien on the property.The person owing the money could also try to work out a settlement where they make a partial payment in agreement to have the lien released from one property.

Can't honestly say that I've studied any of the material as of late.Anyway, I have about 110K in equity in my house, just secured a line of credit for 90K and I have a credit score between 710 and 800.I have a GREAT handyman/carpenter lined up and he has an outstanding work ethic.

This includes Security deposit handling and inventory/condition documentation.

Granted you can not have accounts removed just because you want them to be removed.

okay, so this may be a stupid question (or not if it helps the original poster), what happens if you secure a contract and then, you can't find an investor who will want to buy it?