Another one, who was referred by investor, wouldn't shut up either.

You could also contact some property management companies to get some references, as they usually work with investors, contractors, banks, etc.Good Luck!

CHECK REFERENCES.

But i think the REIT would afford me the flexibility of almost no taxes and also allows me to attract more wealthy investors than a regular corporation setup.What state would you use for setting up a REIT?

If you like what you hear, ask them for lender/investor references.

The downsides are that if you allow them to know it, your tenants will be banging on your door on a regular basis.

The cabinets are jacked, but it still has a giant, commercial hood vent, powered louvers, fire suppression system, commercial 3-bay sink, regular sink and a "handwashing" station.

The PA laws are not very comprehensive and is basically all stemming from the Landlord Tenant Act of 1958 which does not really include specifics so I am researching other states and found more comprehensive information about bailment but no such specifics regarding what's permissible to be deducted from the security deposits or not.If anything, the courts always seem to refer to other states' statues in helping define an area of law that hasn't been written down yet.

Bill too many factors would weigh into this.You are looking at hard money with very high carrying costs at 60% occupancy as a regular lender won't touch it.Too easy to go from 60% to 40% or lower and the new lender has a fresh foreclosure on their hands.Unless you pay cash you will need a HML or private money and will have to pay low to get it to cash flow until you can refi into a lower debt service once stabilized.Is this a local,regional,or national bank??

I am certainly not down on wholesaling, and it is certainly not dead in this market, in fact, if you know how to lock up great deals, it can be a great source of income for you.I work in higher price point market areas (southern CA) and as such, my standard wholesale fee on a regular deal is around $10k, and I have made as much as $40k on deals in the past, it all depends on what the market will bear and how good of a spread you locked up in the first place.