If PM's truly took the "heat" off the owners, then you'd see THAT heralded as Reason #1 for using a PM.As far as Elio's original post regarding S-Corp and personal loans, I hold no opinion and will defer to others more knowledgable in that regard as the topic is quite outside the realm of my own experience.We now return you to our regularly scheduled programming.

Invest a little yourself up front in your profile, present yourself as a real serious person who cares enough to get and offer real advice, and really contribute to the goal of collectively enhancing the memberships wealth base through your knowledge and activity.

But with the knowledge and networking here on BP I feel will certainly cut the learning curve.

I learned this the hard way, on my first deal I used a title company without any knowledge as to if they were investor friendly.

You get knowledge, encouragement, support, motivation, resources, networking and so much more.

The key factor here is how much knowledge does your friend have regarding RE?

Would a broker class help me to be more knowledgeable in this field?

I was trying to merge this goal with the goal of a moderate cash flowing property but it seems this isn't a possible scenario.I intend to invest in cash flowing properties outside of this deal and have already done one cash deal where I bought a property all in for 33k that would comp for about 35k and sold it on land contract for 48k, with 14k down and the balance to be paid at 8% over 6 years.I am continuing to learn and hope to develop my knowledge and comfort in doing a variety of real estate deals but for now I will start with buy/hold rental properties or land contract notes As I have minimal sweat equity/time.My financial situation is interesting as I am a fourth year medical student who will not realize a substantial income for another 5-6 years.

And, based on my experience and knowledge, I see little reason to set up an S-Corp vs an LLC taxes as an S-Corp, unless you plan to have shareholders or need one of the more uncommon aspects of a corporate shell for small business owners.

I have since learned a lot about those deals, it talks a lot of knowledge in fire restoration. the smell can linger forever if not done right!!