You need a special purchase form if there is an active NOD.

So, even though I was a successful real estate wholesaler, when the opportunity arose to teach my expertise to others, I jumped at it.Yes, I made more money when actively flipping houses was my only business.

Again im just trying to gather expertise insight or opinions of others on the situation not here to get engage in any negativity.

Stay active and engage the community.

I have not been in here long but I have taken the time to read thousands of posts before becoming an active participant.

- If you have a real estate LLC, does the LLC have to issue 1099s since rental RE is the trade or business the LLC is engaged in?

Charles Perkins is pretty active here

I'd just want to make sure that I could get tenants that are decent because one bad tenant could kill your profit.Good job on actively trying to find deals and I wish you the best!

So read up, engage, ask questions and when a deal falls in your lap, post the numbers and details so we can give you some advice.Happy investing,Glenn

One more thought: In areas with lots of investor activity, you'll see a fair amount of title holding trusts, like "123 Main Street Trust".