There is an exception to this general rule for spousal LLCs in community property states. 

All utilites except electric are included in HOA fee.

Now gettig a $100k home for $80 is still a good deal but know that conventional is limited to 75% ARV....unless you are getting cash out.So take this same scenario above, except this time the renovation work of $30,000 you pay for our of your own pocket.  

Except this one person.

I love the Indianapolis market for instance  but with rare exception won't do anything with MF there.

This became vital to this acquisition, as there were multiple offers that we ultimately beat out as a result. 

Account ClosedYeah 401k plans allow for hardship distributions and foreclosure generally falls under that exception.

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

This also covers your hind end when working like a wholesaler would, except you don't have to get equitable interest, you are allowed to actually market the property to your list as well as anyone in public (as opposed to marketing the contract).

Any person who engages in the business of a real estate broker or real estate salesperson without obtaining a license as provided in this chapter shall be fined not more than one thousand dollars or imprisoned not more than six months or both, and shall be ineligible to obtain a license for one year from the date of conviction of such offense, except that the commission, in its discretion, may grant a license to such person within such one-year period upon application and after a hearing on such application.If you get a license or if you have a licensed agent or broker in your company, I think that is the way to go.