To your point about having money left for renovations, you can put as little as 5% down on a conventional, but how that's affected by the investment status is decided by the individual lender.Then you have "investment" loans, which will most likely all require around 20% down, ours requires at least 20% with excellent credit.

I'm also reading/listening to books suggested by the guests (rich dad poor dad, abc's of real estate investing. etc.)I know this was a long post but I'm a blogger also and tend to be long winded!

Account Closed By active I mean the individuals or companies actively searching out deals.

My intent is to set up an entity which will own the individual LLCs in which I'll purchase the properties.

Anyone with any experience with this company or the individual Rod Aycox

The house is in such poor shape that I don't see how it has not been condemned.

Hi there,I'd be interested in the collective wisdom of the Bigger Pockets community on anything that might stand in the way of solving a problem for house rich/cash poor homeowners while giving investors a leveraged return on hot real estate markets. 

For a general overview on finances, i would think there could be beneficial meetups in the area he can attend, like minded individuals will change thinking... which is critical! 

I did, however, eventually evict the tenant for non-payment....so much for all the "extra" income.You could also explore switching to collecting 1/2 the rent every other week to accommodate the tenants poor money management habits.

You will then report the information from the K-1 on your individual tax return.When you dispose of the partnership investment-the gain will be long-term if held for more than 1 year.If you have a loan agreement - you are lending money in exchange for interest.