Therefore, I'm very curious as to what plan he came up with in regards to capital gains as using the S-corp essentially negates that unless you're holding long term and for other reasons.They can look at your other activities and other corporations in an audit, so don't think you're too lucky.J Scott basically repeated everything I've stated in other threads.

It is extremely competitive and to really have a decent chance of getting anything you have to be bidding basically everyday on multiple properties.

He goes up to my Realtor, says "hi", and ask's me to leave so he can talk with her in private and I'm basically just shunned out, and leave...I don't mind my Realtor talking to him, but man, that guy just made me feel small...

Basically, if you're primary focus is "cash flow" then you'll want to focus on markets that have higher rent-to-value ratios.

Such is basically eye wash guys.Just look to a stadard RE contract in the default provisions.

I'd say the first thing to do is to get real comfy with the basics and the math (which maybe you are already.)

Not familiar with that area, but the BASIC #'s look good.

Basically buy a property below value with an FHA 203.k 3.5% down, after repairs are done, hopefully have enough equity to cash out refi up to 80% and then potentially HELOC up to 90% on that one as well.So, I would essentially have two OO financed properties that I've cashed out "free" equity that I've generated.

In the heartland, rent yields are so high on the types of properties that Matt describes that you can easily structure the buyer's LC payment to be quite a bit less than the rent would be, even with a sales price that is 50-100% more than you just recently spent to acquire the property, with a rate of 9-10%, and with a fully amortizing 10-15 year note.Most folks that do this that I'm aware of do little or no work to the property beyond very basic habitability standard, they are sold as moderate fixer-uppers to folks that have the skills or connections to make the necessary repairs and updates.

I may be wrong to do this, but first, the over estimation gives me more safety in case I under budgeted elsewhere, and it lets me keep my sanity while estimating.