Further, it has been fascinating to see how many books and articles deal openly with methods for fooling lenders.That said, I've contacted several local real estate attorneys, asking if they handle Subject To closings.

Thanks for the background Jeff and I widh you the best of luck on your new journey that is ahead of you!

If YOU are going to operate it, and invite J.Q.Public in for a fee, in my experience the preferred method is by "licensing" the use....NOT renting or leasing.

You also MAY want to use a reversible method in case you wish to sell later.

Appraisals on commercial buildings (multis) will include all three appraisal methods: comps, income method; and construction cost (not the correct terminology).

What about buy-and-hold or buy-and-lease methods?

You shouldn't try those other methods until you have at least $15-$20k in the bank, which is just one or two wholesale deals.

Instead we use the method of setting up a bank trust.

If you use an accrual method, you report your income when you earn it, therefore you can take a deduction on your tax return.You do not report the debtor to the IRS on form 1099.

They are doing well with the "low and slow" method.