Lonnie deals are usually very skinny deals, not much money involved and buyers usually don't have a pocket full of cash for lending expenses, that's why I was saying it's probably not worth the effort.While I'm "working on" a couple of ideas to address the issues, the SAFE Act is very comprehensive in that it states that "any transaction or arrangement that effectively provides financing" (or very close to that) is covered.

That was a mistake; from what I've learned you are supposed to keep a cheap "dummy" insurance policy in your name only for the purposes of the lender and purchase another comprehensive policy in the name of the LLC that's not listed with the lender.

Lemme' put this into my spreadsheet... 5 unit buildingStanding water in the basement Significant market time to the public on the MLSDeclining neighborhood Purchase price $85kInsufficient reserves for a 25% down paymentNo REI experienceNo stated value add opportunitySpreadsheet says: "Divide by zero error"I'm the first one to acknowledge every person's market, strategy, and definition of success is different, but man ... this just sounds like a terrible, terrible introduction to REI.  

Feel free to send me a private message and I am happy to make an introduction.

Feel free to send me a private message and I am happy to make an introduction.

Hi Tom I hope all is well, you are a man who needs no introduction my friend, I have read both articles as soon as I became a member and they are great and educational .

CLT has not, and I don't anticipate it anytime soon as they had the opportunity with the new comprehensive zoning regulations and they didn't touch it. 

Wise for the introduction.

I believe in well-written and comprehensive business plans.The problem is, when you are "new" to a venture, you often do not have the specific knowledge or the global vision to write an effective and comprehensive business plan by yourself.

Very sweet introduction,Jeff...Wellcome to Bp and best of luck!