. :-) And we are looking in chesterfield and henrico mostly since we know it and are most comfortable. 

My offer would be a structured purchase or terms or whatever verbage you are comfortable with.

I would explain to him that I can save his credit from that repo, and that will save his chances of buying a house, car, etc for the next several yearsFor her, I would take over her debt, place the house into a trust with me as trustee, and have her change the benificiary to my in a few months, once the bank got comfortable with the idea of sending me the bills and getting paid on time.

@Lori BeardTo further @Adrian Chu's point, how comfortable are you to run your business in A, B, C, D area?

I will make trips to Indy at least once or twice each quarter until I am comfortable with numbers and local support team.  

It's a little comforting to see that you're new as well. 

It sounds like you've experienced the dilemma a lot of us do - that what you do to pay less in taxes (reduce income, accelerate/increase expenses) ends up hurting you when it comes time to apply for a loan.The good news is that if you own your own business and know you want to start usingou bank loans, you can start making yourself look better by increasing your salary, etc.Once you feel more comfortable with RE investing you also definitely might benefit from looking into a Solo 401(k) - but I almost hesitate to mention it because at this point it could just complicate your life and distract you from learning more about RE.

If you don't feel comfortable with disclosing everything, at least the cost of repairs can give a general idea of what to expect.Thank you again and good luck. 

Cash flow & the appraisal are key, but the commercial financing institution will need to be very comfortable with the sponsor (i.e. you). 

Kinda puts me in the hot seat.