As stated by the other individuals.....You have to value the property compared to what people are buying, not what they "Could be buying" which it seems atleast part like what you're doing.If 6/8 sold homes in a area are foreclosures, then that area is REO dominant, which means declining sales prices, and if you open up your search range, you fall into the trap of looking at other areas with higher/different values.If the properties wer $57/sf then that's what they are worth.

Looks like an ideal place to network about real estate.

But, oh, how times have changed.You have two incredible gifts at your disposal: time; and access to more resources and knowledge than any individual in all of history.As my old high school coach used to say right before a game: "Boys, the biscuits are on the table."

If they sue the LLC and fail, or don't get a large enough judgment, they'll next try coming after you the individual, or contractor, or sole proprietorship...

Ideal for the buy-and-hold investor.

Once at the corp level and then again at the individual level.20% returns would cetainaly be attractive to investors.

From my experience presenting offers to individuals who have a contractual agreement with a realtor is almost a waste of time for investment purposes, unless you work with a realtor who is "investor friendly" Most realtors I come across are in their own world.

Now from the tax angle think of an LLC as a lump of clay that you can mold into the type of tax planning that fits your individual situation.You can choose to have an LLC taxed in one of four ways;1.

Obviously 100% down is ideal.

I deal primarily with REOs working with clients on the purchase of them (About 75% of my business).Banks and AMs have a process they use to look at offers, some pay attention to the names coming in on the contracts, some do not.If you included a letter stating you were not associated with the other party, you should be good.During a multiple offer situation, this is USUALLY how banks view offers, in order of importance, and these do have a great effect with who they do choose to be the one to buy the property.Purchase priceClosing costsFinance typeEarnest Money DepositI've had buyers to win contracts over other bidders not by purchase price, but by the fact they had cash to close, or were willing to put down $10k as compared to another buyer's $1k.