That's incredibly high.  

I did note that 5 other investors were there in the 10 minute window that I was at the property, so there will likely be incredible competition.  

Even though I work overseas, I am by no means off-limits to the IRS…So after that incredibly long-winded introduction, here are a few questions:In forming an LLC, or S-Corp in the wild case I find something to flip, in what state would I have to incorporate?

They usually just sell their house all-cash instead of worrying about the extra money they could get through repairs.It's incredibly difficult to find someone who's willing to do it, but if you do, it's a great and lucrative strategy.

I have heard some mixed reports from my bankers this week an wanted to know if BP could shed some light We are wanting to buy a 79 single wide mobile home with a lot and a nice 2 car garage. 

Having a rehab. budget with such a wide range is a concern.  

You have the incredible power of compounding on your side!  

But I would like to keep acquiring properties and I'm about to go looking for a second portfolio lender.I know terms probably vary widely, but what kind of terms have you been getting from your portfolio lender?

Over the next 20-25 years you are going to need to cover:1. a new roof, unless you inherited something like slate or copper2. 2 water heaters3. brand new HVAC system4. siding, unless it's vinyl5. tenant damageAs you can imagine, these cost vary widely.  

@Michael HicksThere is WIDE range of prices for basement waterproofing.