In this case an individual and his wife owned interest in some (5) LLCs, and presumably other property (like their house) that ultimately went under because a bank won a judgment against them.

Taxes are 100% of assessed value & run >$8400 & that hurts.The older part of town you mentioned that is beginning to revitalize would definitely be my choice.

Hello,

I'm entering into the world of residential home flipping and wanted to get all of your thoughts on what you prefer when financing the deal.

Hard Money?

Use your own capital?

Bank?

...

Depending how active vs passive there are still many choices.

Only way to change this is to get some like minded individuals on the Board and have them change from the inside out.

We will be acquiring it as individuals and would like to hold the property in an LLC for liability protection.

I think that they are a good group that mentors investors, educates, and provides network that aren't any different than other groups or popular individuals.

Assuming rents will increase in all areas isn't really true if there are alternative choices for tenants.

I want to thank all the individuals who either read, and who commented on my 'wow' topic.

This property was picked up by the seller at a tax auction in September 2013.Hi Jal,You do not say who the seller is, an individual or a bank.