If corporation status is chosen, the default is C-corp unless you make a separate election to be treated as an S-corp.

I haven't purchased this way before, and unless you can gamble a bit of cash without having a contract, I wouldn't suggest it.

They may want to gamble on someone else not knowing the 20 year old HVAC, but as you mentioned, it's going to come up during the inspection.  

. :) What part of NJ do you invest in and why have you chosen that area?

Fortunately, the calculated gamble had paid off.

I took the gains and some principal from the sales and invested in various syndications - chosen for the quality of the operator. 

I don't see huge upsides as there is only a few years left in the up swing and after transaction costs, it's not that fruitful to buy now and hold for another 5 years or so.Also, I'm in earthquake country and insurance is a gamble at best as they may deny a claim.

I have chosen a 4 part marketing approach.

Being a middleman- Realtor, contractor, ect -and get paid off the "investors" gambling. 

Have you chosen a property manager?