There are people here on this board that know what is illegal or possibly illegal.If you are in PA, it is really important to have a lawyer represent your REI Co that knows Landlord Tenant Law and what the local Judges might rule in a Lease Option Agreement.I have doing lease options for 30 years.

Is it likely I could find a mentor out in Colorado to take me on as their project child?

Doing the cash-out refinance and parking the money, especially if co-mingled with personal funds or general operating funds of the business could cause problems.

With interest rates at historic lows, you have a lot of money chasing yield, and institutional money (eg pension funds, insurance co's, private equity) has been pouring into real estate.

Not only are the LLC fees each year several hundred dollars, there is also the overhead per LLC (taxes, bank accounts, no co-mingling of funds, etc).

I'm living in Colorado Springs and investing in Pueblo.

One didn't have a strong rental history so her father co-signed (he has since passed away they tell me).

I got my house leased to a well qualified tenant in less than 2 weeks.I once attended a seminar during the good ole' boom days and there was a company out of Denver, Mile High something or other, selling a development of duplexes and I believe offering management services.

Best to have attorney, or title co attorney draw up closing docs, including note and deed of trust or mortgage, depending on state.

Greetings, I am Karyn Kline, a real estate agent and investor from Fort Collins Colorado.