.$2,515 rent - $251 (10% of rent) - $250 (assume $3k property taxes) - $250 (assume $3k insurance)- $500 maintenance ($100 per unit, includes landscaping, pest control & repairs) = $1,264 left for mortgages & utilities & profitMortgage 1 = $25k @ 5% over 30 years = $134 per monthMax hard money loan = 40% of purchase price. if the $25k = 60%, then your purchase price is $41,667, and your hard money loan is $16,667.

This was not unusual and given he emailed the money order receipts I'm not going to charge the late fee, too many things are outside of my control to blame it on the tenant.

Control the process, get them out and then get new people in.

All this sends a message: Owner in Control-an "operation" that works!

What having a {child/subsidiary} entity in the U.S.A. does is provide you with some flexibility and control on when you repatriate earnings to Canada.

Make sure you get a rent controlled unit (look at sftu.org to determine).

I use L/O's to sell because you retain more control than a mortgage, I personally wouldn't use them to buy.What works best will vary by state big time, though.Saying all that "A confused mind will always say no".

Remember you don't have to own a property to control it.Good LuckPaul

Remember you don't have to own a property to control it.Good LuckPaul

The profit split will be 50/50, the numbers are as follows: 28,209.13 due at closing 25k HML @ 15% 1 yr prepay penalty of 3,750.00 28,209.13 + 3750.00 = 31,959.13 + 35k (projected rehab/holding cost) = 66,959.13 + 5k closing = 71,959.50 ARV is 110K 110,000 - 71,959.5 = 38,040.50 / 2 = 19,020.25 potential profit.My real concern is that the property is titled in the contractor's LLC, there is money owed and I have no control of the property.