If there's a buyer for it at $120K then the lender isn't going to discount the loan.....just so a rehabber can make money.What's preventing the seller from selling the property for what he owes?

The combination of student renters and a property that was not standardly built meant it saved us from unnecessary repairs because someone couldn't find the right switch to turn on the fan etc...

so it could be immediate, although I've never encountered it, and I wouldn't let the DOS prevent me from doing a lease purchase or a sub-2.To me what is more prevalent is knowing and understanding the exit strategy and who to structure it.Which means I don't think someone starting of should do a sub-2 or SLO.

But you do get some where there are problems, which may prevent the sell from moving forward.

The law in Texas does not prevent it, but I don't want to bring that kind of pressure on you, me or the school.

A llc, unless you have substantial net worth is an unnecessary and complicating expense.

Learn to do small repairs yourself.You want to prevent your houses from having problems.

I purchased a program on real estate, rehab and flipping recently and one of the "perks" of the program was consultation/foot work for opening an LLC (I of course have to pay the applicable state fees).However, in my introduction forum I got the impression that an LLC was unnecessary and maybe harmful to start with.

There are websites that advertise foreclosures, since most are listed on the multi list why do unnecessary work.

Then I would get inspection, treatment and a long term contract for termite prevention.