We ran the numbers to make sure we would still have some cashflow even with the HELOC when we're done rehabbing because it's at a higher interest rate than you can get with your regular mortgage.

Which "they" are you referring to Bill?

Never once in the write up is there a specific reference to where the person stepped over the line.

For example mention that you work with a lot of sellers headed to foreclosure and their best option may be bankruptcy and you can refer them business.

I've heard of this before, where the signs are OK on weekends.Right of way probably refers to the city or state owned property next to roads.

However, our AGI is above $150,000 a year, and neither one of us is a real estate professional.Because of that, it looks like I would not be able to deduct any rental property loss against our regular income if I owned a rental property in the "normal way" (schedule E).My question is whether or not it is possible to get around this by forming either an LLC or an S-Corp.

Get references and make sure you can count on them.Real Estate investing is fantastic for those well advised and disciplined.

I see what you are saying reference the numbers.I also agree that the numbers for that type of consumer and transaction may not be the bread and butter of the industry.

Also consider the travel distance if you expect to attend meetings on a regular basis.I would be a bit liberal and visit a number of groups to see which ones you like.

Check references on whomever you choose.