Hey guys! So my husband and I recently purchased a Fannie Mae home in South Central LA (whoop whoop) that we are hoping to flip in the next 6 months. This is our FIRST flip and it's already starting off with some cra...

I think our lawyer is just overly cautious - says that if the LLC want's to be shady they can shut down the operation and instruct for our deposit not to be released from escrow.In any case, appreciate all the advice - we agree with all your comments and that was our gut feel but always nice to hear some affirmation.

I am not 100 percent set on Delaware yet but my former employer built a big campus down there and continue to expand their operations in that area.

This is standard operating procedure for any real estate purchase, be it for a traditional retail buyer or a real estate investor.

According to IRS PUB 527:Repairs (Expenses): A repair keeps your property in good operating condition.

Any vehicle payment you use aside from our normal operations?

So just wondering how others operate with type-A personalities, and A.D.D. like me, but successfully pay off their debts AND save at the same time to get back to $0 to then move forward and take action by investing.  

House also doesn't have operable A/C...so I don't see any extra motivation to get this done "in the near future" with sweltering AZ heat. 

I have a couple key people that I speak to in operations and Shaun has been great throughout the whole process.

I would seek to understand the situation on this one and ask the wholesaler.I'm currently in DD on a commercial property and my JV operating agreement isn't in place.