But because of that there is a lot of competition there right now.I would suggest paying a lawyer and CPA to determine the best entity for what he will be doing.

The cap rate is 7.8% and price per square foot is $285, which also seems to be lower than much of what is on the market for renovated houses- new renovations are ~$400+ I'm projecting our ROI will be 8.8%, using the current rents.We're having an engineer inspect the house tomorrow, and our lawyer is reviewing the leases...

As I recall, the rule is that "...before substantive contact..." you are required to disclose that you are not only a licensee, but who you are representing in the transaction.

I recently lost my mom and was PR for the estate.Even though the will identifies you as PR (personal representative), also called executor, an estate attorney needs to execute and record these documents for you before you can act as PR.

The least common is a letter from a lawyer or CPA, these are usually difficult to obtain.In regard to proving a negative.

I don't know what that is but it should be easy to find on the IRS website or from a CPA or lawyer.

@Joel Owens so can someone go through a HML for a joint venture or must that be set up between a private money source and the borrower through a RE lawyer?

It is our job to catch those folks when screening to ensure they never move-in in the first place {BTW: It's not just working class tenants, or those on assistance, who are hard on properties, we had a young, hot-shot, lawyer cause unbelievable damage to a freshly renovated flat in just six months}.

I just wanted to get a few opinions on the importance of a good CPA or Lawyer.

Bill Gulley The way I read it the property is shaped in like the letter T, and she is using the - & I to represent the shape of the 2 parcels of land.