The NEW lease-option design...As I understand it, one of the requirements of the new Consumer Finance Protection Bureau, birthed from the Dodd-Frank legislation, is that ANY lender in an installment sale has to verify that the borrower is capable of repaying the loan, just like a traditional mortgage lender must.

Their forte is setting up these LLCs and charging for their services.You can probably set up the LLC more cost effectively yourself, using your own attorney if needed.  

I love the built environments, so my other idea was architecture, but I didn't want to spend long hours in the design studio.

hey guys i found this very motivated seller hes looking to sell me his two bedroom two bath family home for 15k$  He originally bought the proporty 4 years ago for 32k$ cash and has put 12k$ into the property the problem is ive just recently become serious about paying off personal debts and its effecting my credit the banks wont lend me a line of credit for 20k$ (5k$ incase of repairs)  and morgages are 25k$+. what should i do?

Since the margins are typically so tight on commodity lumber, the supplier either has to take the hit and match the market, or ride it out.4) If you're including trusses in this, those can vary dramatically - huge swings in price... in part because the design is subject to the individual designer as well as some supplier have in-house truss capability while others act as a middleman.  

Once you have rehabbed it (cost effectively) and rented it out for say six months, a NEW appraisal should come in at least 40% more than you owe on it, which means that your Lender should approve a cash-out of 20-25% of it's new value ie. enough for a DEPOSIT on your next property purchase (and so on)...Others may have a clearer or more correct explanation.

My question is; How does living in the flip effect the tax end of this?

If you think you'll get over the 40k/year mark in profits, then filing the S-designation is worth it. 

I know that will effect us negatively...but still would like to hear opinions since she has not paid mortgage since 07 and they have not been able to foreclose on her.

Interesting, but we need our view to be know directly to the SEC it they are to have any effect.