to make a offer on my first deal should i just try and guess a repair cost. i really have no idea what to look for besides basic appliances and things i would change but cost wise im in darker waters. im also guessing that the end buyer already has a contractor that will do the work so bringing in my own to do a estimate is useless unless im the end buyer.

First you need some basic business consultation and you can get free advice from SCORE, google that and follow from there, probably have advisors near you.An LLC is sufficient to do anything any RE, the type of business structure has very little to do with the nature of business conducted, as a small business your considerations should be based on tax matters, ease of adminitration, flexibility to conduct business, ability to obtain financing and insurance and lastly liability matters.

The day 90 was basically so you're not permanently tied into the property.

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.