@Sabino Gonzalez , I am not an expert in taxes like @Steven Hamilton II , but here are some thoughts.First I believe a subchapter S is the preferred company to do flips in so you can avoid some of the self employment tax.Next have your friend give the money to your company, he will want a written agreement, then after your you sell the property have your company issue him the check for his share and send him a 1099 showing what you paid him.This shows the expense to him for using his money, and is a deduction for you for your cost.

Being an entrepreneur and marketing are 2 other key aspects, and I get information about those topics on the other shows.

Hello all,

So...as I am researching the topic on PMI, I am coming up with conflicting responses. I am looking at a 3.5% (30 year) owner-occupied FHA loan for a duplex in Dallas.

From what I understand....

I've looked at them (I'm in IL), but have avoided them for the reasons you cite: everyone has a slightly different idea of how to deal with them.

When recording a mortgage it would cost me about $3,900 that is the fee I am looking to avoid.

It seems to be a better approach to start off month to month, but I want to avoid good tenants moving out on me within a few months of renting a property just because that option is available to them.

There is plenty of equity in the property, but since most of it is penalties and interest and if it is true that they get nothing if the house goes to foreclosure, then it is an unnecessary expense that we would like to avoid.

Titlesearch.com might be an option, but I think I would just rather avoid the middleman potentially missing something.

I know I've looked at student rentals where you had to tread lightly to avoid the beer cans.

Some states have fairly onerous laws around what you can and can't do with such sellers, and specific forms and disclosures.To get the phone to ring, you need to some type of marketing.You also need to start building that buyers list early.There are a number of posts here on specific aspects of this business.