I especially enjoy the ones where you take people to task about this supposed Holy Grail 50% “rule†and I share most of your thoughts there.I didn’t find much wrong with the post referenced either, although I did vote for some of the subsequent comments.

I did a conditional release a couple year ago in a wholesale scenario, but I had the end-buyer's attorney draw up the release.

This is especially true if the seller's position was improved by the subsequent offer.

The two of you can be members in the LLC and have an attorney draw it up.

i would suggest having an attorney draw up this paperwork and getting you on title as additional insured or 2nd mortgagee or something.

You may need to replace the flying or outer rafter and trim, as it may be sagging and drawing the roof down.

The time for starting that is already past, as you must do this from day one (the day the tenant fills out an application).I agree with NC Mark; you may not recover any money (after all, this is a tenant, with very few assets most likely) - but the judgment will follow on that person's record for all subsequent landlords to see (as long as they are willing to do the necessary screening to look).

Look for more flippers entering the arena driving up prices and subsequent bargains after they fall out of love with the work.http://therealdeal.com/miami/articles/vanilla-ice-talks-to-the-real-deal-about-his-real-estate-careerI'd like to see more of Kirsten from Property Ladder.

Third --must have good development plan Zonned and approevd as well as architectural plans - engineering drawings etc --for Development Loans --Not just Land Loan.Sorry --market is tough right now.I do have few lenders they may do at 55% LTV for land ---for solid buyers.

Max, I appreciate the recommendation, but the primary reason I am asking such a question in this forum is to avoid the costs associated with seeking proffesional advice and instead seeking recommendations of experienced inviduals who probably sought such advice themselves.When I goto actually set everything up I will seek the advice of a CPA and have a competent attorney draw everything up, but I want to avoid as much of that cost as possible by being well educated prior to seeking such proffesional (and expensive) services.