You meet with those  professionals so that you are aware of the strategy of the type of entity you want to be  for tax reasons as well as other issues.  

check with lenders foreclosure 5 years ago should not be an issue  Not certain but I assume you could get around that.

Hello,I'm running into an issue with getting my wife as excited about this as I am.

My offer on a REO was rejected as too low - the issue with the townhouse is listed at (1)"system did not hold pressure due to damages, unable to find source of allleaks, water heater damaged at side where TPR valve damaged" and (2) "Water Supply and Sewage system was inspected for presence of obvious visible defects.

However, I have been talking about real estate investing with a lot of friends and family and funding is now not the issue.

We address routine maintenance issues, but the property was in pretty poor shape and we failed our first ever REAC inspection this summer.  

Further look into it I found out that Lis Pendens was issues last month.  

The agent had a friend that made the same if not higher offer but theirs was 30 day close and they were asking questions like is the title clean, any issues with title, etc.

You will have tenant issues, late payments, excuses, they will have young children, and probably above average ware and tear on the property.

We also target homes built 1990 or newer, as we are just more familiar with this construction, the issues, and hopefully lack of issues.I know there are a thousand way to invest in real estate, but these are my goals.