Having used both, I feel more comfortable using an option contract since lenders seem to have more of an issue in doing land trusts. 2) Options 3) I put... buyer may market and resell or assign (though assignments have been nearly nil). 4) It is incorporated in the option contract and in the notice of option which is recorded.

I should incorporate that line in my business.

Does your "Management Fee" of 10% incorporate the tenant placement fees that will most likely be an annual expense? 

We have successful strategies that we incorporate in our office that work to keep many of these tenants and get them back in to reperformance, but even when that happens... almost half of those tenants end up not completing the lease and may need to be evicted.

I've read that LLC incorporated in DE and NV can be more beneficial for tax and privacy reasons, but admittedly am just beginning to learn about our options.Thanks!

I would probably say that I’ll accept your verbal offer and give you 24 hours to establish the LLC and sign the Letter, or something like that.Why not just state in the Offer Letter that you plan to establish a [whatever State] LLC upon acceptance of the offer in which you will be the Sole Member, and that the LLC will be the Purchaser, hold Title, etc.Again, I’m not an attorney, but also when you draft the Operating Agreement for the LLC, I would think you’d want to somehow reference the Offer Letter as a Resolution or somehow incorporate the fact the its binding on the LLC.For state purposes, even for SM LLC’s, the LLC is a separate legal entity from you.

i've talked with some attorneys but they said i should buy individual, i disagree however, for the long term i believe incorporated is better. what lenders do you plan on targeting once you have your corporation up and running?

Ensure your contract covers the transfer of all assets, list personal assets, trade marks, rents, receivables, contracts pending, labor contacts, sales materials, signs, desks and chairs as well as all appliances, assign a value to personal property for depreciation.

On our current (large) rehab, I got high speed internet installed on the property right after purchasing it and setup a desk and chair as an onsite office.  

One of my goals for this year is to stop running my own books, so I imagine whomever I train to do it for me I'll just have them incorporate Quickbooks' receipt scanning process into the weekly reconciliation...As I mentioned in another thread - something that's been of great help in keeping receipts organized is starting to use Lowes and Home Depot credit accounts.