As you advance in RE you may find that you'll be dealing with all kinds of criminals, need to define criminal, those caught and charged, found guilty and paid their dues or a criminal who cheats, lies, deceives, pulls unlawful acts and hasn't been formally caught?

You have to define your roles specifically prior to partnership.

In a previous post, we established and defined “The 8 Phases of the Flip,” and today, I want to discuss Phase 1 and a little of phase 2 for this historical Victorian house.

It is a small resort property (3 cabins and a retail component) in a very popular vacation destination in my home State, Minnesota.  

A: The rules define a “loan originator” as a person who, for or in expectation of direct or indirect compensation or other monetary gain, performs any of the following activities:(1) takes an application, offers, arranges, assists a consumer in obtaining or applying to obtain, negotiates, or otherwise obtains or makes an extension of credit for another person” OR(2) represents to the public through advertising or other means that such a person can or will perform any of these activities.

It is definable possible.

You could just go FHA and buy a duplex, tri-plex, quad and take advantage of FHA 3.5% down and live in one of the units and rent the rest out.Underwriting the loans and the borrower for how much they put down has a main component of are they living there or not??

The first thing you need to do is define your specific goals--measurable goals, not just "I want to be a real estate tycoon," rather "I want to learn how to find good deals."  

But I have to ask both of you how you are defining "cash flow.'

Arthur) there except maybe for a small part defined as a square between hwy 347, Hwy 73, Hwy 69 and FM 365.