If you need more assistance, title companies can be a great resource in helping make sure you have the proper documentation.

I agree with Holdman's comment.In my experience banks maximize their sales prices this includes a properly marketed property and a bank ordered BPO or appraisal to verify the price of any offers presented.

He ensured that the house would be covered for the $150K amount if it was burned down and that I would not have to build back a 6 bedroom house in it's place.Does anyone know what I'm getting into and what do I need to do to get properly insured in case of an extreme accident?

Commingling funds and record keeping are the two biggest issue that can pierce the corporate veil, so if you are going to go to the trouble of setting up and LLC, then make sure to properly maintain that arms length relationship.BTW, I also recognize that you could be personally sued in my example, but a correctly structured entity exists solely for that reason and the hope is that you would easily win such a suit.I now feel compelled to say that I'm not a lawyer and this post does not constitute legal advice....

As long as you educate yourself on how to properly wholesale and have literally a few bucks to spend, you can be a wholesaler.The key is finding good deals from motivated buyers that you can get at the right price, and also acquiring cash buyers to sell the properties to.

The HOA's claim, through first right, is superior to yours.Now, before this goes from molehill to mountain, why not simply talk to the bank or agent and tell them that you are willing to extend the closing date so they can properly give the HOA the right of their refusal.

You have entered a great environment for learning how to properly do business as a real estate investor.

If anybody wants any pointers, would be happy to do so.Good Luck where ever you buy, real estate creates wealth if done properly.

This is true but that means that you are actually paying 80 months of rent, and this equates to a GRM of 6.8 or soLearning how to do it properly!

I am finding the deals on my own and through wholesalers, just need an agent to ensure my partner and I are transacting protected and legally with all proper paperwork)-Home Inspector (As backup to GC.