We are using bank financing so each member is responsible to pay the down payment plus closing costs equivalent to their percentage of interest in the company.As far as the payroll taxes or 1099 that is something our CPA will be guiding us through.

So Im looking at my Loan info right now in front of me. I have say 3 of these so far like this with my bank.Principal Amount $99,200 , 179 consecutive payments of principal and interest $701.32 every 5 years interest ...

Hi evrybody ,i am kind need help on deal i am trying to make it here .Asking Price 1,45 milion Purchase price 1.35 Downpayment 30% ( bank loan)8 units 9600Sf total Gross Operating Income 138,533   (Gross Potencial income 145,000)Monthy GOI 11544Total Annual Expences 51794monthly expences 4316Expenses 51794Property Menager 7000insurance 6000Landskaping snow removal 9300repairs 4000taxes 18500trash 2200water sewer 4900Rents 1650 ,1600,1375,1200,1400,1750,1375,1800All is townhouse 3/2I am think to i do my self property manager ,i am think to lower landskaping and snow removal from 9200$ to lower down.4 is fully done ,4 need to be renovate.School is 10 ,area is great ,bullding is very healty ,a lot land can be approve to build another 8 unitsPlease i need some help before i give 5% monday to under deposit .thank you (i am sorry for english )

If you have 10+ properties then having 10% of the value in the bank on all of them is a huge amount in reserve that isn't being used in the best way.

Also funding it I was looking at options of 401k that I have sitting there that I can transfer or cash out because I just switched Jobs 6 months ago, look into refinance our home that I have been in for 3 years, or bank.

Almost all big banking institutions offer self directed IRAs but most of them have restrictions when it comes to investing in real estate.

Depends on the bank but yes you can.

The last thing you want to do is get under contract with a bank owned house, then waste two weeks trying to find a contractor and then end up with a bad one that's hard to work with. 

Ask them to write their story out, make up your own, maybe set up a website, maybe get some old porcelain dolls in there, and Airbnb that place as a genuine haunted house all the way to the bank, baby.

I use C&F Mortgage. if they aren't in your area try going to local smaller banks.