I just had one done today - Unfortunately no raise in value but this one was 60k less than sales price.Anyway if you have the appraisal you can tell the things he made adjustments/comps he used and asked him to consider others that may have closed in that time or ones that he overlooked.Edit- If the appraisal you did in November was not an FHA appraisal that could account for your 15% variation- FHA appraisals are usually more conservative than regular conventional and tend to come in less or maybe you had stuff close that had a lower value.

I will be using PM due to the fact I'm military and tend to be gone a good bit, even so I -should- be pulling in over 900 a month in cash flow with a 0% down payment.

I'm a big fan of the adage, "Great contractors and professionals tend to hang out with other great contractors and professionals."

Thanks for the info and opinions everyone.I tend to agree with Joel.

Lawyers tend not to go after assets that have no significant equity.I do agree that if there is a plan to sell this property then having it in its own entity can be beneficial, but if your plan is to cross collateralize the equity of your portfolio this could limit that ability.

The people here tend to speak out of both sides of their mouths simultaneously.However, it is a great place to do business and the opportunities are here for risk versus reward.

Those properties tend to cost much more to purchase.

Also I tend to partner with various people, so it makes my set up pretty straight forward.Most accountants will tell you it may be over-board if you are planning on buying one or two.

It has been my experience that if you can make offers through them they tend to tell you when you really need to raise your bid in these situations.

The books are crap from the seller, the loan balance is small so only local banks want it, the loans are harder to do because the buyers tend to have less liquidity starting out and net worth, the buyers tend to not have a track record of owning that type of asset, etc.