the owner just had a stroke and has other properities. this one is the only fixer-upper, he basically just wants out. i,m taking an equity loan on my house for $40000 for down payment, closing, and a small credit line(about $12000). my main concern is the labor charges of contractors in my area. the on-hand cash would enable me to get local handymen and cheap laborers to cut into alot of the cost of teardown and disposial. also a friend workes for a local home builder and is willing to do alot of the drywall work and floors on the side.

I just read the original thread---juicy...I can't answer the where, but I'm going to take a stab at what to look for (which is at the core of the question---you have to know the "what" before you can find the "where"): - Follow the employers---seek areas where employment is both vibrant and growing (job growth leads to migration patterns---people have a tendency to follow the money)- Seek a community with current or future infrastructure expansion intentions.

Is it better to just tell them you are going to send them a letter of intent and make a lowball offer that way?

My last PM seemed to feel that several day turnaround was adequate and that's the main reason they are my ex-PM.

The main reason I want to get out of here is it is not a great place to raise a family and I have a 16 month old son now.

Certainly, leasing the property doesn't violate the first mortgage, assuming you didn't apply for the loan as owner occupied with the intention of renting it from day one.

It is a "cash" buy for all intents and purposes and no one knows better nor cares until the closing and looks at the HUD.To me the interest only payment for 6mos-year is no big deal.

If you are the owner of the LLC, then you have a distribution from the S-corp to you as the 100% owner and this is a non-taxable distribution provided you have basis in the S-corp stock and then you are contributing it into your LLC as a partner would and receive additional value in your capital account of the LLC.If the S-corp is the owner of the LLC, then you have a straight contribution into the LLC and receive additional value in the S-corp's capital account of the LLC.You also need to determine what the purpose of transferring the property is and what the intent will be.

Your posts have both been edited to fit within our forum's rules.What are your intentions here?

A series LLC charter is $750 to start, $50 for each certificate of designation (for the series names) and I can't tell if each of the series has to pay the annual report fee or if its just another $250 for the main LLC.