Feedback is greatly appreciated for this deal:Hotel/Motel Purchase and Rehab Purchase Price $750,000 Rehab Estimate $500 - 900k Current Appraisal $2mil My goal is to:Purchase this property with none of my own moneyUse the equity in the property towards the down payment assistance Close and put cash in my pocket at closing for working capital Finance both the PIP rehab and purchase with one loan if possible and one closing Obtain new appraisal and permanent financing once the PIP rehab is complete

An option might be a part time fix, buying on a conditional contract would be tighter.Must you be in title to obtain permits there?

It also is a ploy to obtain more of a seller's equity by flipping a contract to a willing and able buyer and in your capacity as a licensee, that transaction may not be considered being in the public good, you are avoiding your agency responsibilities through self dealing.

I'm 23 years old and currently living with my parents working odd jobs, have an associates degree (in liberal studies.. yay), 0 debt and perfect credit. I've always wanted to get involved in real estate and would like...

The property is being sold “as is, where is” and in our offer we must remove a clause that says “When the Buyer obtains possession, the Property will be in substantially the same condition as it was when this Contract was accepted”The property is occupied and if they trash the place before they move out then it’s our problem.

On the front end, ask your agent to obtain a written rejection of your offer (no more verbal exchanges).

And in most cases my partner and I invest our own money along side the limited partners.Despite all this, it is reasonable to expect that given a sufficient sample size the following will occur(1) A certain percentage of loans will become "problems" with periods of late payments and defaults(2) A certain number of these problem loans will result in foreclosure filing(3) A certain number of these foreclosure filings will result in the lenders obtaining ownership of the property through foreclosure(4) In a small percentage of (3) above the lenders will end up incurring a windfall profit.

As I did not obtain or hold an MBA (not that you need one to be in business) I look fwd to your thread conversation on the LLC ownership, and/or why it is not necessary.

The goal is to obtain assets so buy rentals.  

I understand that you can obtain lien information for yourself from the county clerks officer (or you locations equivalent).