In exchange for their money, they get first mortgage on the property to secure their funds, with monthly interest payments.

Also make sure they haven’t pocketed security deposit.

There wasn't a need to have robust documents, just what was needed for a note and deed of trust to secure the investment.Selling to an owner occupant, I would definitely let the MLO take care of everything.

Hi, On a Tax Deed property purchased from State of Alabama, if I  want the previous owner to redeem do I need to file Ejection Lawsuit prior to his redemption?

The bank views a year lease as less risk for them and a form of stability which as investors we know doesn’t equate to security in the real world .

If I purchase it with my husband’s IRAs, and if he does the landlording, then could he could take withdrawals, which would then pay social security taxes, on right?  

We have done one flip with a partner before and created and LLC and filed as an S-Corp.

Just keep in mind this document is something you are always updating so keep a digital file handy.

This year I will need to file taxes and look forward to doing it to have something to show banks for income verification.

For that deal we started an LLC and filed as an S-Corp. 50/50 split for cost and return of profit.