Will absolutely keep in mind the potential benefit of not committing as the fallback buyer!

Every lender differs in the paperwork arena but all want a personal guarantee, mortgage, note, title commitment, and other miscellaneous items.Call me if you have other questions and I will try to answer as best as I can.

In short, we were doing weekend rentals throughout the summer, but couldn't really get anyone to commit to a week at a time (which is what we really needed to get the numbers to work).

Good to see you DON'T want to commit mortgage fraud - which not living there would be.Aah, the impatience of youth.

It's a huge commitment and luckily my parents would be willing to let me slowly work into it but both of your replies made it seem a little more reasonable and it seems crazy to pass up such a great opportunity.

If your accountant is suggesting an s-corp to hold rentals and passive activities they could very well be committing malpractice.You run into major basis issues inside of a corporation that you don't have holding through a single member LLC that is not taxed as a corp.

I want to meet more people in the areas I plan to invest before jumping into any commitments.

Hi Bernard, it's great to see your commitment to learning from others.

No one answer but I think you need to be committed.

Before I commit to anything I'll be getting my own inspection, appraisal, etc.