Your accounting needs to be separate, any issue with a shell LLC that has no assets will likely fall fast, you certainly can't comingle assets, business to business or business and personal.

Sorry it took a few days to officially welcome you - sometimes posts will fall through the cracks if a whole bunch of posts all happen at once!

Might be room for profit but a ton of possible trap doors to fall through as well before you open the door to the money at the end.No legal advice

If you accommodate him he might be inclined to let one of those homes fall through the cracks into your hands in addition to the $200K.

I kind of figure someone with that much money would fall into a couple different categories.1) Someone that is still in the process of building wealth and would get a mortgage to take advantage of the cheap money and use that cash to get into other investments.2) Someone that has saved and lived well within their means to accumulate a nice sum of money.

Remember Christmas falls in the month she will be "earning" the money to pay Jan Rent.

If your tenant does not pay, you must cover the entire mortgage on your own now - If your evecting, this may continue for several months - with a duplex, at least you would have another rent check to fall back on.Also, when you consider taxes and insurance - it would cost more in taxes if you purchased two homes and paid for two insurance polices Vs paying taxes on one property and only one policy.

I'll be "retiring" from the military in the fall of 2015.

I can't speak for flips, but for mortgages you'd have to be a silent partner, so to speak.

This past fall a couple large cracks, 1/8" and some typical hairline cracks, have appeared throughout the home.