I have asked my county building, and it sounds like the rules and guide line are in the lein list.

Just make sure you have the comps to justify your fair market value.

But all states have different rules and reg's...

having said this, let me further say that many people who are considering any type of business or investing in real estate, HAVE NO IDEA about financing, financials, types of investing, how to handle agreements and contracts, laws and rules, regulations, etc.additionally, i would just go out on a limb and say, that in my opinion, i would say that (and this is a guess) about 40% of the real estate "investors" that would consider themselves successful and maybe even many fellow colleagues would think the same about them - that they are not or will not last in the business.

mrossen,remember the NUMBER ONE RULE TO INVESTING.BUY LOWSELL HIGHit's a simple strategy - now you bought gold with some of your money.

Alina, do you expect them to change the rules soon?

Please be careful to follow the rules of the forum and do now post SPAM advertisements on the site.Thank you.

The first prop I got is doing well but I jumped in feet first without the proper research to justify the decision from an investment perspective.

Remember the rule of monoply your aim is to get hotels not houses.

The rules and costs for setting up an LLC differ in each state, so you may want to do a little research in your state before proceeding.I just set one up in NJ and it took only a few minutes on the internet and cost a little more than $200.Since the LLC has no history, we are purchasing the property as individuals and then transfering it as an asset to the LLC immediately after closing, or at the closing.