They are incorporated.

The law provides for remedies for lost physical security instruments and notes, they can be re-formed or affirmed as lost or destroyed and still carry the same legal rights they always have.

Hi Everyone,Great site,been lurking for a while,reading through all the forums and trying to incorporate some of the ideas I've found here.I began in RE in 1985 when I received a California RE license while employed full timein the communications industry.It seemed like everyone had a license back then.I puttogether 2 deals through a broker/friend who had been the one who encouraged me to apply for the license.It quickly became apparent to me that i couldn't do both jobs so I allowed the license to lapse and went with the steady paycheck.Fast forward to 2010 when i began investing in Memphis for cash flow.Cash deals,fannie mae foreclosures.The first 3/2 SFR I bought in Millington went really well.Tenants remain in place since purchase.The second property,a duplex in South Memphis,looked great on paper.It turned into a roller coaster ride with me hanging on while being schooled on the different PM skills required in sketchy areas.I think the wheels just came off on that one,quite the shame really.I had an exit plan that called for a sale after stabilizing and receiving full rents for 5 months.After 5 months of receiving projected 40% gross returns on deployed capital the exit plan got "fuzzy".In the future I think I'll leave those for the locals who can self manage.These first purchases I was flying by the seat of my pants.I think around Nov. of last year I stumbled upon this site and first read of the 2%/50% guidelines.I picked up a triplex in Midtown,38104 which penciled in at about 2.5% monthly.The jury's still out on that one since it was only purchased 4.1.12 and has yet to be fully occupied.Bigger Pockets has been a tremendous resource,allowing me an insight to other LL's who have had to deal with the same issue's and found a best practices formula from A-Z.Keep up the good work,Paul Talley

I did use 5 comps on one and 6 on the other.btw, I learned something from your sheet too, doing the custom formatting to incorporate the title and value in one cell.

Most home inspectors are knowledgeable about the physical property but not as much about multi-family life safety codes (in particular fire protection such as sprinklers, interconnected smoke detectors, wall ratings, egress, etc.)You also might want to obligate the seller to obtain the CO.

I have a record of the deposit and who actually made the deposit and they have a physical location where they can make a payment.  

Holding 6 months will allow the property to be reappraised incorporating any repairs into the appraisal.

Have you considered starting a Bizzaro BP that operates in a physical format?

If you physically can make the payments, then make them.

LLC is okay but I prefer Incorporated.