She basically said if she is giving them a $5000 fee she will price it $7500 higher and then asks for the $2500 in closing costs.

Are there any basics that I should know about flipping as well as basic first-timer mistakes that I can avoid?

.:...My understanding is that the highly touted tax benefits of owning rental property boils down to [1] you can write off expenses (but I don't see that as a benefit; I don't think people should pay taxes on money they didn't make), ...Well, for the most part the expenses that are a "write off" reduce income that was actually received in the form of rent; so that basically just lowers net income received.

Phillip here's the basic info.

Basically, it's creating a situation where you know that someone is going to get hurt.

Here in NJ we have what's called 'Operation of Law' which basically states that (generally speaking) if more than 2 years have passed since the Mother's death, then title automatically passes to the next of kin (if intestate) or beneficiaries in the will (if testate, and this part is an assumption).

HML's, in my opion have a bad reputation due to the lack of professionalism, honesty and integrity of those who basically enter the arena with a sence of ruthlessness about profits driven by greed than any public service, not all, but enough to taint the barrel.Wearing a suit doesn't make you a professional, neither does a bank account, a college education or having an office.

If you can complete a major renovation/ value play it is possible to purchase something distressed and fix up for lower then perceived retail price, however this takes a massive amount of capital and knowledge to execute on the scale of an NYC apartment building.This is not to say that you can't find the needle in the haystack but it is not a scale-able modelFind me a deal that is otherwise and lets analyze it

There are basically 2 choices: owner / 3rd party financing.

Basically, after six months, I can rent the property to a third party.