If they skip out of owed rent or damages, he just writes it off.

I'd like to add that if those options fail for whatever reason, you can easily skip trace the owner.

I have a BS in construction management and am just about to finish my MBA. 5 years into my career and the pay is pretty good but if I were to do it all over again (assuming amassing cash to invest is my goal) i'd skip college and find a lucrative career like being a lineman.

Got fined because I didn't follow the laws correctly when dealing with juvenile delinquents that wanted to use my property as club house when they skipped school.

Part of the game includes reverse engineering title in addition to skips tracing owners or heirs in many cases.Less than 1% who notice these properties EVER follow through and take meaningful action. 

Or simply stick to a wet bar, and skip the cooking facilities. 

@Kamil KisielewiczI vote Raleigh but which ever city you pick you should visit before making final decision..I like your approach too many young investors want to skip U or leave their W2 but in reality if you have a high income W2 will make it easier to start your RE journey.

I thought about skipping the attorney and going with just a notary but out of complete transparency, I believe that it will reassure a buyer to know that an attorney is going to oversee the transaction.   

I don't recommend skipping the permit. 

The entity is layer two.As far as volume, if you are only going to flip 1-3 properties, then I guess you can certainly skip the entity and just add additional liability coverage for added protection.