I'm one who (for now) won't bother going the llc route.Your purpose for getting an LLC is to protect you and for it to properly protect you you pretty much have to know all the dos and donts of operating under an LLC.

Are you buying the subject 2 deals for yourself and paying the balance, or are you assigning the sub2 deals to someone else?

Mainly local banks and credit unions for the small balance stuff.Hope it helps.

I would.If the worst case happened and the bank called the note due, could you cover the $12,800 balance?

Hi Richard, It says loan assumption is offered as a financing package at 1,700,000 loan balance versus the 2.5 million they are asking.

I've been on BiggerPockets for a few months now but have never properly introduced myself, as they say to do.My name is Bryan from Bend, OR, and I've been investing now for around 3 years.

it is 80 percent of the appraised value minus the balance on the note...

It could be the bank on the note wrote off the balance as they did not want the property.

I think my biggest concern is making sure that I am making the proper disclosures to show that I am not taking advantage of potential real estate customers for personal gain.

Keep in mind, if you may be using reserves held in an IRA, some lender guidelines only count 60% of the total IRA balance towards reserves.