Originally posted by Brian Hickey:Teardowns make the most sense when other homes in the immediate area are worth about 2 or 3 times as much as your resulting real estate (once the new home has been built).That's an interesting perspective Brian.

I don't even want current tenants to open their mouths in front of perspective tenants let alone run the show!!!!

Due diligence and numbers that match my business criteria are critical.I appreciate hearing input from a rehabber who is considering wholesaleing - it gives me some perspective on motivation.

1.Cost of Note is 41K2.Vacant and secure3.My lawyer says it looks very good from a legal perspective.4.A final summary judgement has been signed by the home owner, its going straight to foreclosure…3-4 months5.My research and a realtor that I contacted strongly believe it would sell quickly at 62K-65K.6.Expenses to consider: 2K for the lawyer, 2K for past HOA dues, 2K realtor commission if sold, $1,500 prop taxes are due.7.2 bed 2 bath and 1,200 sqft, would rent for $950-$1000, could be a very good cash flow property8.Right off the I-75 and Cross-town expressway, close to Tampaemail if interested.

Most my family is in upstate and Albany, so look forward to hearing more perspectives on the market up there. :)

There is no patent for EnviroTabs, although there is one for EnviroTab (which actually has to do with dispensing beer).Here's the full sentence in the patent where "envirotab" is mentioned, "FIG. 34 is a perspective view of a dispensing means which comprises a main pouring port (1), subsidiary pouring port (2), and air intake port (11') (each shown by a dotted line) made directly on a metal container.

For general business operations there is some benefit to using an "S" Corp.You must understand that Attorneys and CPA's rarely agree for they approach the problem with differing perspectives.

So this is really a FINANCED transaction - you can spin it any way you want, but from the bank's perspective, you will have to qualify for this loan with the HML and meet the HML underwriting requirements.So, in order for the selling bank to get an idea of whether you'll qualify, they want you to pre-qualify with them.The part that is tough about this is that the HML qualifying and underwriting are going to differ from a bank's.

Now I dont know what area these are in but from a cash flow perspective I think you can do much better.

I prefer SFH/townhomes.Thanks for the information on this thread, encouraging words for sure and interesting perspective on CA.Peter