I think this discussion is an excellent learning opportunity for newcomers (like myself), as it provides a real-life sample for evaluation.First, is this essentially a form that outlines the mortgage for which you’ve been approved?

Revenue Procedure 2008-16 only addresses vacation properties, second homes and essentially primary residences that have been converted to investment property, but we wondered if this might be the IRS's way of starting to go down the two year holding period requirement.

In this case, with both the LL and the doughnut chompers being essentially non-responsive, tenants need to document the situation and send certified NOTICE to LL, the Chief of Police, and, if necessary, CC the local news media.Document the situation with letters, photos, and multiple written tenant statements.

You may want to double check on that just for safety sake...Good luck!

It then goes into the steps of creating a good business plan and goes over some of the essential finance and accounting methods.As a newbie myself, I am looking to create my LLC some time in Q2 of 2008 and then to close on my first deal some time in Q3 or Q4 (assuming I can find the property the best fits my goals).Good post.

The money will only be essential in the beginning.

The extra money down has to do with safety as a newbie, a recognition and protection against their own inexperience, and nothing to do with cash flow.

They compete with each other for the exact same pool of borrowers, so it's not probable that they will ever be wildly different (as essentially identical products), nor is it probable they will ever be exactly identical (due to competitive forces). 

A will serve letter is essential with utilities but that is only given issued to current owner if permissible .

Nothing solid in Clemmons - we simply don't know enough about these places (schools, safety, etc) to feel comfortable enough to invest).