I need advise...thanks.Angel

5) What if the project is some type of value-added project that doesn't generate cash-flow in early period(s), does the preferred return accumulate until there is enough cash-flow to pay all preferred returns?

If he knows nothing of real estate but wants to invest in it, he should put ALL the money in some sort of savings or money market that generates a yield, and take the time to learn as much as he can in real estate.

I truly appreciate everyone's insight, will listen and take all the advise and try to apply all I can.

How do I screen a general list of names and addresses of homeowners in a city zip code to find the ones that have been published on Lis Pendens list? Do I have to be a paid member of some website, go check county pub...

Why not ask your friend for advise as well.

-My thoughts at this time are that if I purchase this house I would try to rent it when I am finished at 1400-1500 and if I am unable to generate rentors immediately I would concomittently have it for sale, hopefully to break even.

He (or she) would be in the best position to advise you since an S-election is based on tax, and not legal, issues.

Thanks for looking, like I said This is not my nitch and I don't want to give bad advise to a friend. love to find her a Lo but maybe a 2 yr rent is not a bad idea either, with that fairly fresh BK she needs time to cook anyway???

Fixed rate - if you can lock in an interest rate of ~5% and generate a annual ROI of 18+ percent (in today's dollars), you're always going to beat out inflation - even if you don't raise rents.