Hello all,  I am very new to the real estate world and playing on attending a local auction in a few days but confussed on if the property once purchased is free and clear or do you aquire the dept the home come with....

I would only say that if your only business at this time is real estate and you live and invest in CA, then establish your entity there as a domestic entity.

DeuceSevenOff: When you sign, do you sign just your name or do you depend on the text below the signature line to establish your capacity as signer?

If the contract has a firm completion date of sometime next week established, then I don't see the problem.

Established a payment history and begged for mercy if it was ever questioned.

I have been able to re-establish my credit since that horrific moment.

Today my ambitions are less that of a contractor and more focused on investing and establishing a multifamily portfolio.  

I wouldn't gamble on a gutted house unless I was planning on fixing a good portion of it myself and if the house was in a decent area otherwise I look for houses that have at least electrical, plumbing, a decent roof, and most the drywall in tact.

Risks for smaller investments are much harder to qualify than they are for more institutional type assets because situations are often highly unique without a lot of comparable scenarios in the immediate market to establish a true market priceHaving said that, for larger commercial investments a more sophisticated analysis is common.

The point of hold back is not so much to ensure the money is for a business purpose because rehab history and lending to an entity would establish that for legal purposes.