I question how dedicated the guy is to selling the property since when he was selling two other properties for me to 1031 into this 30-unit he was communicating weekly if not multiple times per week (a good amount of commission was involved).

Whether you hire out everything or are more involved, plan from the beginning to be able to step away from the business if you need to.That requires careful analysis of the property BEFORE you buy, to determine if it meets your financial goals AFTER including all expenses.If any turn key company sends you a cashflow analysis without at least TIMMUR: 1.

While I was offered a position as a simple cinderella investor (I funded most of the rehab and holding costs), I wanted to be as involved as possible.

A lot of strategies involve a quick close.  

You can remodel them, but before you get involved you will want to consider that they may be more difficult for your end buyer to finance.

Got my RE agent involved so I can find out more information.

@Michael NavarroHey Michael,     There are some great groups to get involved with that have meetings next week.

If it is an income producing property, it should be:1) An LLC created in the state of the property (West Virginia) - especially if there is a lender involved; or2) An out of state LLC that is then registered as a Foreign LLC in the state of West VirginiaOption #1 is a little less complicated and generally less expensive.Talk to your lawyer and CPA and get their advice.I am not your lawyer and I recommend you hire one to get appropriate advice that is specific to your situation.

He is still a person with needs, that don’t involve money, and interests like other people.

You just need to ensure no disqualified parties are involved in the transaction, and that the note is in conformance with state lending laws/disclosures.