@Matthew R Mcnulty I don't have a buyer yet, my plan was to find a good deal, get it under contract then market it and since I'm actually going to purchase it i don't have to worry about that gray line with wholesaling being legal.

It allows for the formation of separate “child” series under the “parent” Series LLC, but the liability is still compartmentalized within the individual “child” series in case there are any legal issues.

I need a place for my wife and children to live regardless of what happens to my investment properties or the economy.Another thing to consider are the legal requirements of flipping your primary residence.  

The seller has the risk of the buyer not making the mtg payments and there is very little the seller can do about it.Proper state required disclosures need to be executed by the seller, otherwise the buyer has some legal/criminal liabilities.Once a sub2 is done, a short sale is no longer possible.

Unlikely a PM will want to get involved just to evict someone and in most states they can't legally represent you in court even if they wanted to.

Secondly, if major work was done, e.g. adding a bathroom, and not properly permitted, it's not legal and the town could make you rip it out and start all over.

For example, if you are working with an attorney and they're providing legal advice it's best to not use that individual as your QI.

Now, In fact, she claims the additional work was not agreed upon because I did not provide her with a cost, then she said I overcharged her for the additional work, now she is claiming  she never agreed or excepted the original estimate.I have time to file a lien, and I will be required to file a suit against her, however, this is a tax question, not a legal question. 

Each “child” series is treated as its own entity legally, but they all operate under one EIN and you can operate them under the same bank account when you do the bookkeeping correctly.

I pointed that out, he knocked off a good chunk of money, I bought it with the intent to make it a legal triplex.