Should we have an LLC in order to facilitate the initial transaction of getting the property under contract?

Fellow BP Investors,I'm trying lock down accurate numbers on the buy / selling transaction costs associated on a flip.  

You can also hear how individuals transitioned into big transaction such as flips and buys n holds. 

Five years later, a national drugstore chain wanted to build a store on a quarter-block area that included our smallish lot. 

Very above board and clear transactions. 

One thing that I don't think was brought up is fair market rent and arms length transactions.  

That would be a cleaner transaction and they could later sell their portion and not affect you. 

The sale of a property can trigger a re-assessment (depends on jurisdiction) so you do need to research this and if it will, the sale price assuming an arms length transaction, will be come the FMV which will impact the taxes.In analyzing a number of opportunities, I have seen deals that appear 'good' but which degrade to 'not good' just based on the 'likely' change in property taxes.You have to know the local jurisdiction laws and make sure you keep this in mind when running numbers.

I train in wholesaling but also lease options and subject to and wraparound mortgages Virginia is pretty strict and having a real estate license really does help youI would start a marketing campaign toward houses with good school districts in medium priced housesI like expired listings because they want to sell I would knock on their door and give a free report and then follow upMost expired listings are overpriced because They don't have a lot of equityInstead of an assignment I use an option release because in many states assignments are frowned uponSo here are the steps-Contact the expired listing seller-Show the cost is sell by listing with an agent-Compare that with lease to own in getting your sales price without a sales commission down the roadYou can either act as a principal in the transaction by creating a lease and option with your LLC or sign a listing agreement and charge a fee to facilitate the lease to ownIf you're acting as a principal, you take your option and place a memorandum of option against the property at county recordsOnce you have the house under contract you market for tenant buyers in that area that have 3 to 5% downEither the tenant buyer or the seller or both will pay your option release feeP.m. me if I can help youBest wishesBrian

The seller wants to sell it and the agent wants a transaction.