Land, for instance, does not require a site visit if its purchased properly.Most new investors simply need to get the first deal done to get the jitters out.  

In some instances it might make sense to buy a home with cash (maybe it will make a lower offer more attractive for reasons others have stated) with the plan that you will refinance for 70-75% of the value - extracting a majority of your cash out of the deal. 

You could use her damage deposit for some of the damage but this sounds like an instance to eat it.Eddie

For instance, a home that just needs to be torn down, etc.

For instance, if I loan you 100,000 at 10% interest for 1 year, I am expecting a minimum of 4 months interest only payments.  

@Chad Urbshott  thanks Chad I saved that... although the info is a little convolutedin our state for instance they have the judicial rules mixed in with the trustee's rules since we do both these days but its a good baramoter to start with.

For instance, do I need to call the series "Real Estate llc" Series"Address" OR can I just use the address as the name -  which is a proxy for whatever the heck I want?

Mark Kohler JD, CPA - known for being a one-stop shop (Irvine, CA)*Quite famous, known for his seminars and his books "What your CPA isn't telling you" and "Lawyers are liars"*Think that he'd great, but don't know what other people's real experience has been*Current Schedule of Fees:  ConsultationMark Kohler (CPA & Attorney) $400 per hourCPA ranges from $175-$200 per hourTax Consultant is $60-$75 per hour*Here's an example of his schedule of fees:  * LLC or S-Corp Entity Set-up - $800.00 plus state filing fees.

For instance, if I were to get a HML for a property, than rehabbed the property to increase value, are there terms or conditions that are typical of most traditional lenders for obtaining a mortgage to pay off the original HML?

It's not necessary.I am going to share with you a great secret - there is a tailor in Las Vegas who has had an amazing career as a clothier for the rich and famous.