I live in WI and I am wanting to do subject-to deals, but I am afraid that I am only limited to 3 out of the 4 seasons to do deals.

Certainly would be worth doing if your ownership includes all the equipment that's inside a Jiffy Lube.My understanding is that amortization periods for NNN properties may be limited to the remaining lease term.

With the vinyl in sheets, you use a wet adhesive, so the floor prep is not as critical as with the little 12x12 self adhesive tiles.

In most states, creditors are limited to a charging order against an LLC.

The parts on how to handle the back end of the transactions and how handle the money put aside for the buyer/renter are missing....Thats my biggest criticism.

Personally, I like wholesales because it is easy with very limited risk and huge paydays.

The net result is that the "taxable income" from the rental may well be negative even though the cash flow (aka money in your pocket, which is rent - expenses - mortgage payment) may be positive.There are limitations, though, on your ability to deduct this against ordinary income.

Every individual property is in a seperate LLC and as broke as possible, this limits the liability should something go wrong (lawsuit) at any one property.

Cheyne,Having done fix and flips for 12 years, both Jon and Mike give you excellent advice.I always limit the number or use of contractors specifically for the reasons you have experienced and Mike described.You sound as if you are at the end of the line money wise, if you can't get capital to finish, either through private money or a money partner, I would lean towards selling as-is and get out from it before it becomes a further burden.

But here's my problem: If I drop that much to just try and get a sale, I'd prefer not to use a realtor because commission charges arent factored in to that cost; thus, my exposure is limited and its harder to find buyers.