where JIM W does not really care about first time home buyers..

Many lessons learned, how to identify a stick built house and a manufactured house and that the appraiser is different for both types.When the property you buy is divided into 2 different townships, who takes care of what utility.

It didn’t work out for me because according to the formula my “coach” provided, this deal did not include at least a 10% profit, and I didn’t care that it was a 6% profit, it was a good profit, and it wasn’t going to be the only deal, but I pitched it to the private money partners I was given access, but It wasn’t jumped on fast enough before another investor snatched it up for $1.3 mil all cash within a couple of days of my walking it.This was the problem with this “coaching” program… all my potential deals fell through because there never was at least a 10% profit, so I couldn’t get attention quick enough from the private money partners before another investor came in with all cash.

I was just informed from my mortgage company that in their eyes a point = .125 so if my rate is currently 6.375 buying 1pt would drop it to 6.250.  

I love, love, love the company PCM.

PM companies vary so asking them how you get your distribution, and when, is important. 

It depends on the deal, but what we did was give the PMP (Private Money Partner) 50% equity in the property to fund the entire entry fee.Thats not necessarily a rule of thumb.This to me is a sliding scale based on the Cash on Cash return you can expect.Further , we offered our partner 75% of the cash flow until they are paid back in full, then the cash flow return drops down to 50%.All liabilities would also be split 50% with this partner.We called the company we use , who establishes our LLCs, opened an LLC, wrote up an operating agreement and a JV agreement that outlined all of our responsibilities for the asset.

For context, I have a business degree in marketing (not good I know) and work for the biggest single family rental company in the US doing entry level customer service.

This may be your best bet as it lets you hold off on formation, but its important to make the title company and the lender aware ahead of time so they can update title and prepare the loan docs with the correct entity name.

I have seen more people torch their retirement plan using this "strategy" than I care to think about.As @Chris Seveney notes, an IRA can be setup with a specialty self-directed custodian so the IRA can be invested in non-traditional assets like real estate.