But if I put too much money and the bank does call it due I would be the one scrambling after putting money.I am trying to see if I can work out some other type of deal , pmts every month instead of any chunks upfront to minimize my risk.

Here's my issue.I'm young and have minimal funds (i'll say around 17k at the moment).

I took the chance on a cheap property hoping to make a minimal profit for quick flip to build some equity.

Just trying to minimize maintenance calls and damage to the units.I guess I could install a floor drain where the washer is in case it leaks it will run into the drain instead of the ceiling.I saw Mike Holmes do this on a show but do not know the cost or how difficult it would be to do it.

If you know the 100K to 200K market like that back of your hand but only have minimal experience in less than 50K or more than 500K, then you stick with what you know.

Also, anyone that has been in this business for any amount of time and knows anything knows that you can break into any house anywhere in minimal time without doing much damage.

:Just a quick reply while I read through the other posts in detail, but these two are still building capital and don't want to tie up money in a deal that for that time period.For them, the outlay would be minimal.

Market demand for such homes is minimal..."

If its a multi-member LLC, you have to file a partnership return and then each partner puts their share on their own return.Your CPA should be more concerned with handling the profits from the fix-and-flips so that you minimize self employment taxes than where the LLCs are set up.

The bank is facing a losing transaction, so it will want to minimize its losses and sell the property as close to fair market value as possible.