Old homes in Cleveland present interesting problems, especially with the intention of flipping.

Twenty-four hours is presumed to be a reasonable notice in the absence of evidence to the contrary.(9) Promptly commence an action under Chapter 1923. of the Revised Code, after complying with division (C) of section 5321.17 of the Revised Code, to remove a tenant from particular residential premises, if the tenant fails to vacate the premises within three days after the giving of the notice required by that division and if the landlord has actual knowledge of or has reasonable cause to believe that the tenant, any person in the tenant's household, or any person on the premises with the consent of the tenant previously has or presently is engaged in a violation as described in division (A)(6)(a)(i) of section 1923.02 of the Revised Code, whether or not the tenant or other person has been charged with, has pleaded guilty to or been convicted of, or has been determined to be a delinquent child for an act that, if committed by an adult, would be a violation as described in that division.

I understand I have some imputed but why do that... for me because I had ZERO default... and zero interest paid in one year as opposed to 5.5 % for many years is better when you compute PVM  ( present value of Money)  I first started doing these back in the 80's when my first Saudi client said he could not pay interest for religious reasons..

I brought up the issue of single member LLCs, rental real estate, schedule C and schedule E and I have to say it caused quite a bit of debate amongst the group.There were about 40 CPAs present during the "official topics" discussion and the following issues surrounding this came up.1 - if a landlord receives a 1099 for the rental income, there was some discussion about avoiding an IRS matching inquiry letter and so some CPAs would put the rental income on a Schedule C for the sole purpose of being able to report the income under the LLC EIN and so the matching criteria would be met.  

Once we have a larger portfolio of deals done, we could then present to our network deals in which we actually need their lending.We have a new opportunity we're working on, but we're unsure whether we should go this route.

Both scenarios will require discipline and making sacrifices in the present for a better future.

But this deal, based on what you've presented, sounds like a run (don't walk) far away.

We provide screens and we mark on the move-in checklist if they are present and their condition.

Since this is at the present time this amounts to about a dozen locks in rotation it is pretty easy not to have the same lock on the same house for years and by that point I will probably have new locks to use. 

Sure, every once in a while one of Clussive’s customers would present a contract reflecting new FHA or VA financing and he would have to steer the customer to one of his associates to close the transaction, but for the most part it had little to no effect on his career.