Spinning my wheels, networking with as many investors as possible, searching for the real deals, just basically putting in work and realizing it doesn't happen over night...For all the major players, the true investors: if you would please,enlighten me and all the newbies out there, what your typical day or week is spent doing...

I'm referring to a property that doesn't require major renovations but you get for a great price.

If this, then, makes the creditor a majority shareholder in the corporation, the creditor could force liquidation of the company.

Do you avoid making offers on REOs if they have major unpermitted work like a patio, reroof, or fireplace or room addition?

Have not heard of such a thing...Every major area has their own MLS (it's not centralized), and in the Atlanta metro area, there are actually two major listing services -- The GAMLS and the FMLS.Depending on which part of Atlanta metro you're in, it's much more likely that an agent is using one of these MLS services and not the other.

But I didn't like the terms of the current deal considering how much work the house needed and my own lack of experience at quantifying how much a major rehab would cost.

Paint after major repairs/modifications are done, not before, and those shiny new appliances can wait until almost last so they don't get damaged in the chaos.

If you flip, it will be considered business income.I am a Enrolled Agent licensed by the Department of Treasury in tax.

Certainly agreed with Ibrahim on his comments...he should get one project and if it goes perfectly give him one or two more and see how those go before giving him any major volume....Is the contractor a GC?

Your concerns are well-founded.A major problem is that there are very few folks in these areas that can obtain financing.