When driving for dollars, don't just focus on fixer-upper houses, pay attention to the vacant land lots that you will find.   

Slowly moving projects when forced to by clients.I should have fired him 2 years ago but I was pot committed and didn't have the balls to start over with a new consultant.What I learned is that moving on quickly from an underperforming consultant is vital. 

Finding a deal worth pursuing is one thing but managing a renovation out of state is a different ball game.Do you have renovation funds to use outside of your down payment + closing costs?

It was listed on Zillow for $110k and we made a low ball offer at $90k, ended up getting under contract for $95k.

Jay,Thanks for the thoughts. 3 investors who have all lent in the past for various projects with other operators.My understanding is that if we own the land/dirt then it would be in an LLC.

What's the deal with 'land lease'...should we steer clear? 

I am grateful we attended the rich dad seminar because it is what got the ball rolling for us for a minimal cost.  

If some other dude wanted to run this business it sounds like they could just buy a mobile home on a similar plot of land for like $200,000 and throw up $40,000 worth of sheds and the like.

I got a land contract.How did you add value to the deal?

If you have a regarded tax entity, e.g. partnership, S Corp, C Corp, you need complete financials -- P&L and balance sheet to adequately prepare the tax returns and answer tax related questions.