Selling strictly as-is, cash & carry/re-hab type funding. 4 BR, 2 Ba, detached garage/shop.

I need help understanding as I continue to learn about the wonderful world of RE................

I don't mean faster or more efficiently I just mean with a better end result.I remember the first time I did a re-roofed a house.

A couple friends and I want to buy an investment house, fix it up and then sell it. Here's a few questions I have about that:

[list]Is forming an LLC the best entity for this?[/list:u]
[list]If we went to an attorney...

Can you tell I'm not too impressed with re agents?

How does RE- Investor sustain an income?

I noticed that (re: low end & cash flow) on paper, too, although the concern there is A. problem tenants and B. resale down the line and lastly C. the seller usually overstates income/understates expenses so upon diligent research, I've found that the cash flow often is minimal or disappears altogether--and the repairs necessary (usually involving heating & insulation, since all the low ends I've looked at include H&HW) to make the property flow are quite high.

Id love to talk to or be refered to anybody in Nj who is making a living wholesaling re in NJ, south Jersey if possible.

We want to pull out some equity to re-invest.

Personally I would....1) Give portion to one of my fav. charities (Caring House Project)2) Put a portion in a CD/MM3) Re-Invest much of it back into my business....Real Estate :)4) ENJOY IT!