Very definitely verify this with your own accountant before taking any such action.Best wishes,Jim

If wholesaling is your initial strategy, I would suggest you dive into the wholesaling forum and read the posts in there, particularly "The Truth About Wholesaling"Many rookie mistakes are made with that strategy, so educate yourself and avoid such mistakes.

I think it has some real potential with the re-development initiatives and the location.

Bill GulleyWhen the SAFE act was first proposed my initial thoughts were:a).

Will you limit your initial inventory, say to 3/2/2s or take any cute house?

My initial review is that it's a lot like the Unofficial Guide - chock full of great information but at a high level.

Is it a better/cleaner approach to have each partner contribute the same capital initially, but have the "money" partner loan the LLC/scorp cash to buy property interest free.

You can verify many of the operating expenses independently, e.g., property taxes, utilities, sewer/water, and should do so.

My mantra is- ask tons of questions, verify, and follow up.

Enough that I moved my initial search to obits instead of waiting for a probate to be opened and I suggest if this is one of the areas you work, you do the same.