I've heard of IL strict deposit return protocol so either way give proper notice of intent to withhold in a timely manner.I withhold the days of rent it took to re-rent when I receive no notice. 

Chances are you will still have to put your own capital into the deal, but this method, if done properly, can minimize the amount of capital required. 

You can get away with a lower down payment, easy to analyze and some renters prefer only SFs.

Neither are very easy to sell should you have to foreclose. 

I look at the house with a contractor and it's going to need an easy $50-$60k to dress it up, fix foundation and asbestos issues, among other things and at best you might get $1,900 gross rent each month. 

ETC.It's not easy, but it is simple.Lastly, don't get discouraged if you don't buy a deal in your first week of searching.

In easy case scenario, an adjuster could send me scope and price then ill accept and sign contract.To the OP, sorry for hijacking your thread.

But here are some things generally speaking that tend to be more appealing for developers:- They like easy access (so if the road widening helps with this, it could be a plus).- They like a cooperative township- They like the land already subdivided or approved for developmentDepending on who your end user is, the answer to what they're looking for would be different.

Buying out of state could be a very simple, easy & low risk strategy.

@Lucy ChangIn addition to filing a federal + state tax return - some cities/counties have their own filing requirement.It appears that San Jose considers you to be doing business within their boundaries.Below is a link to their website with instructionshttp://www.sanjoseca.gov/businesstaxYou can hire someone to do the proper filings for you or you can look at the instructions and do them yourself.You should look at the instructions on whether to put yourself as a sole proprietorship or a partnership.