Official date of transfer is a week out.However, regardless of servicer, we own the debt and are the lender.

Utilities - Water and Sewer 58.33 (Confirmed from seller) - Gas and Electricity 208.33 (Estimating to confirm) - Garbage (NA for this property) - Cable, Phone, Internet 120.00 Pest Control (NA for this property) Accounting and Legal (NA for this property) Monthly Operating Expenses 1,085.00 Net Operating Income (NOI) Total Annual Operating Income 33,480.00 Total Annual Operating Expense 13,020.00 Annual Net Operating Income 20,460.00 Capitalization Rate and Valuation Desired Capitalization Rate 10.00% Property Valuation (Offer Price) 204,600.00 Actual Purchase Price 210,000.00 Actual Capitalization Rate 9.74% Loan Information Down Payment 21,000.00 Loan Amount 189,000.00 Acquisition Costs and Loan Fees 4,000.00 Length of Mortgage (years) 25 Annual Interest Rate 5.000% Initial Investment 25,000.00 Monthly Mortgage Payment (PI) 1,104.88 Annual Interest 9,361.50 Annual Principal 3,897.00 Total Annual Debt Service 13,258.50 Cash Flow and ROI Total Monthly Cash Flow (before taxes) 600.12 Total Annual Cash Flow (before taxes) 7,201.50 Cash on Cash Return (ROI) 28.81%The Official Details From Seller:Asking: $210,000.00Property DetailsStoreys: 2 Building Size:Lot Size: 1045 Square MetersBuilding Size: 2328 Square FeetEstimated Annual Taxes: 3093.00 (2017)Unit 2 Presently rented: Rental Income $900.00 /month (not including Power)FeaturesWater Front Property (In this small town)Flooring Unit 1 Laminate and Unit 2 Laminate, Vinyl and CarpetFoundation - Concrete with 4 foot walls for unit 2 apartment (allows for much natural light with large windows in all rooms)Heating - Baseboard, Electric,Other Inclusions - Dishwasher, Fridge, Stove, Blinds, Washer, Dryer in both units~ Taxes, Water/Sewer paid until the point of SaleOutdoor: Landscaped and water fountainRoof Asphalt ShingleServices Electricity, FibreOP High Speed Internet, Telephone and cable/satelliteWater and Sewer ~ Municipality System approximately $650.00 per yearRoomsMain Floor ~ Unit 1 1260 Square FeetKITCHEN / DINING ROOM 12’ x 15’LIVING ROOM 15’ x 15’LAUNDRY ROOM 6’ x 3’BATHROOM 6’-6” x 11’-6”MASTER BEDROOM 10’-6” x 11’-6BEDROOM # 2 (walk in closet) 9’-4” x 11’-6BEDROOM #3 9’ x 11’-6”BEDROOM / Office #4 9’ x 11’-6”DECK 12’ x 15’Rooms2nd Floor ~ Unit 2 Walk Out 1068 Square FeetKITCHEN / DINING ROOM 10’ x 15’LIVING ROOM 15’ x 15’LAUNDRY ROOM 6’ x 3’BATHROOM 6’-6 x 11’-6”MASTER BEDROOM 10’-6 x 9’-6”BEDROOM #2 9’-6” x 13”BEDROOM #3 10’ x 11’-6”UTILITY and STORAGE ROOM 9’ x 12’BABY BARN 8’ x 10’  

Spokane is better than Seattle, anyways.As a side note, and I'd love to hear what you think about this, what I am hearing from the raging wholesaling debate here on BiggerPockets is that officials across the country will be more and more looking for whether or not investors actually have the ability to close on the contracts that they enter into.

Dont' give them ammo to work with...vague vague vague.....This will go nowhere....make sure you have all your documentation taken care of and in order, and do not have any more correspondence with the tenant....refer them to your lawyer.There is no need to contact a lawyer until you get some official documents from their lawyer or a court etc.

From what I understand this law firm will also pose as official LLC representative as far as LLC registration goes on continuous basis.

Account Closed wonderful advice: Flipping, in my opinion, requires a particular type of temperament as you would have to deal with a lot of different and interesting characters from City Officials to CON-tractors (note the CON part). 

I tried to post this to the BP official forum but when I clicked my mouse must have high lighted  Tax forum.

Like you I fond this site a few weeks ago and made my official introduction on the forum yesterday.

Buy my 86-yr old neighbors' 1 acre house and property so I can expand and make official my easement with a boundary adjustment that also gets his shop! 

I'll start off by saying that I am currently a foreman for a home builder, and so am approaching the world of house flipping from the Contractor side as opposed to the Real Estate side, and with that in mind, please pardon my ignorance in many areas--although I think this may be why most of the information I find doesn't quite fit my needs.My name is Shawn, and I am trying to work my way into my first "official" home flip.