Your inventory will be sitting on the market a while, but it'll sell eventually.If you want to get into units, stay in Pittsfield and avoid the bad areas.

I do not want to waste time making mistakes a wise adviser and advocate can help me avoid.

That way you could at least start doing that one thing and making some money, and not have to wait until you learned every aspect of REI before you take action.

You and they will likely give a personal guarantee for any loan, so the difference will be in commercial lending guidlines.Since you are immediate family members, you'll be exempt from SEC fund raising issues as well as the SAFE Act if say your father makes you a loan personally if your home is included in all this.Yes, your LLC needs to be formed prior to purchase and applying for the loan, I suggest you spend a few bucks and see an attorney in setting this up, there are options and aspects of such an entity that simply are not contained in some internet LLC formoperating agreement.

Seems the only new aspect is no sale within 30 days.

As for me, I am licensed and did so right away (as I was working on other aspects of preparing my business such as learning my market, writing a business plan, learning more about REI, lining up contractors, etc).

As someone who makes offers primarily over the phone I'm taking a hard look at docusign.com to email my documents and have them signed electronically. echosign.com is another popular alternative.The good side is it avoids messy faxing back and forth; the downside is it requires basic computer literacy which may be unworkable with a segment of the population.

We lived in each house two years to avoid capital gains.

That's about the only thing you can do that avoids taxes for the IRA, as far as actually owning real estate.

Get the lien release at final payment from ALL contractors and ALL subs.Also, it is YOUR responsibility to make sure these contractors and subs are licensed (meaning you need to check with your state licensing board to make sure they are active and current) as well as insured (ask for their insurance evidence, including workers comp.I only pay progress and I personally like to buy materials myself and avoid the mark-ups.