If you do not act in a negligent manner, as in the example Gary mentioned, you can avoid those situations, however, negligent or not, responsible or not, I would rather have the protection of the insurance to fight the lawyers rather than my own money.

He has not yet listed the house, and it appeals to hiim that maybe you are a buyer who will pay cash for his house, and then he can avoid paying realtor fees, make repairs, etc.

and then I was just reading a post that made it sound like you don't really get that much protection from the LLC if it is either single member (which we might do to avoid the partnership tax return) or if the only members are spouses.And then to really confuse me it seems like with the new guidelines that you can't quit claim the property into the LLC until you are absolutely sure you won't refinance which would seem like never to me - I guess I would always want that option.So I guess my question is for a new investor team of spouses what is the best direction:Set up an LLC?

If you are going to use QuickBooks for rental property, here are steps to organize your bills and avoid late fees: 1.

The information is available FOR FREE on this website to avoid every one of those mistakes.

You must have the proper document and procedure to avoid title seasoning.

You do want to avoid the "dealer" classification.

But this avoids double closing costs, transfer taxes.Also avoids seasoning issues for the buyers loan.

This avoids the banks and you try to use as little of your own money as possible, which sound right up your alley.

Have any of you had success blasting your properties out via centralized websites that are in the business of charging wholesalers/sellers a fee to post their deals on the site?