***About Shelf Corporations***For starters shelf corporations are nothing new and have been around for decades.

We've also started to contact some banks for financing the 80%, and are currently looking to either use Commercial Direct or National City...If anyone has any experience with those and has an opinion , it be much appreciated.

There have been a lot of posts here about whether to open an LLC, S-Corp or other entity, in which state, and for what purpose in order to deal with real estate.

However, even if we use your numbers, this is a very poor deal.Gross Operating Income $1,519,291 $1,559,291 Less Expenses $518,179 $472,297 Net Operating Income $1,001,112 $1,086,994 Debt: ($9,975,000, 20 year, 7.5%) $964,296Cash Flow: $3,086 per month ($36, 816 per year) or $14.82 per unit per month.If anything is not as you hope or anything changes (like your debt adjusting), this could easily lose a lot of money.Using more realistic operating expenses, this deal is even uglier:Here's how I would evaluate this deal:Gross Operating Income $126, 608 per monthOperating Expenses: $63,304 per monthNOI: $63,304Debt: $80,358Monthly LOSS: $17,054I would suggest contacting the National Apartment Association or another apartment/landlord association and researching the operating expenses issues.

They may know of other independent clubs that aren't affiliated with the National REIA umbrella organization.

I learned about buying shelf corps with established credit today and have been researching like crazy to find a decent company that seems legit to do something like this. I have been calling and interviewing all compa...

Indeed, at the time seasoning was a challenge for some foreign nationals.

NOTHING.When a lender is discounting a note (meaning they are losing money), they do not want the homeowner to profit from the transaction.Here is where it can get dangerous.....Last year, a national "guru" on short sales did a boot camp in Dallas.

Theoretically with the combined ground/neutral panel system in the US, you would have the same risk of being shocked through the ground if you lost your neutral at the panel.Funny thing is that it stated that up until 1996 the National Electric Code didn't separate the ground and neutral on many appliances.

Unfortunately there is a growing mentality in this country (I don't know about other places) that it is ok to stick it to landlords, employers, government, insurance companies, or even other individuals, and it is often rationalized as ok because "big corporations are paying" or "that is what insurance is for" or "I need to get something for my tax dollars" or simply "I need money and it is not my problem where it ends up coming from."