@Gary Thompson If father in law just wants a loan and interest, rather than being involved in the risk and the reward then he should just do the hard money interest rate.

I second the recommendations on here to just ignore it and don't respond - you don't want to make any kind of commitments to him to have it looked at and then be held on the hook for that.If he's serious he'll get his lawyer involved, but until that happens I'd just block the phone number.

There are many ways to do this deal, depending on the needs of each party involved.

You will need some cash to clean up and renovate.

Either way, the fire has been lit and we are actively getting involved in the REI world and meeting other investors and are ready to just get in the game.

I try to line up several showings in one day while I'm staying busy cleaning or repairing.

This trade or business requirement can be particularly difficult for rental properties to meet and is usually based on the extent of the taxpayer's involvement in the rental activity.

But then I wondered if I should clean up the property, remove the unbelievable amounts of 'stuff' left behind, mow the property and give it all just a little 'sprucing', if this would;  1.

@Maxton JohnsonIt really depends on what real estate activity you are trying to be involved in.It also depends on what your goals are.It is true that for a NY LLC to be established that it needs to have its information placed in 2 ads for 6 weeks.

Around 6 months ago REWW used a print house of Saint Louis and these things were CLEANING up.