Most are backwards looking while I was mostly thinking of a pro forma to highlight proposed deals.Is the above clear?

That will compromise your ability to get a loan.If you are buying this for the long term value and not the cash flow then be clear about that and accept that maybe you could have done better.

I apologize for assuming that was directed at me - as John has clearly said you should consult an experienced professional of your choice.

Or get a partner with a clear way to later buy them out.Let the market help produce the money you need for investing.John Corey

Sorry if I wasn't clear when I first asked what I should do but I do hope this response helps out a bit!

pulling cash out of it without a CLEAR IDEA OF WHAT YOU WANT TO DO is not wise (in my opinion).third - the term "LLC" means absolutely nothing without a CLEAR CUT idea of what it is you're going to do in order to have the LLC GENERATE REVENUE of some kind.this is very important.

Having clear title is extremely important, but holding off on marketing the property for 1-5 days for the title company to find out if the title is clear is not a good use of precious days UNLESS you have a strong suspicion that the title is not clear.Teasing an investor with a property with a title issue is not promotive of satisfied customers.

Once you have clear title and the deed and accepted offers from the lenders, then you can close.Good luck.Originally posted by "kmhendren":Been working with fixer uppers and now trying to move into pre-foreclosures.

You can get title insurance but they will exclude pre-existing liens that are on record (the loan).The documentation process is pretty clear and simple.

Hence be clear that you will go after them when you take their application.