While researching deals, you should start building your team (realtor, attorney, lender, etc) so you are ready to pull the trigger when the time comes.Are you targeting any specific areas?

More specifically, I'm looking for a du-, tri-, or quad-plex. 

In FL, I believe RE sales associate can form business entities for tax purposes but it must specifically be the name of the person such as: John Smith, LLC.

Based on my experience, big money is being made in niches.  

Hey Guys,I've been lurking on the forums for a month or so and thought it was time to do my intro.My name is John McAuley and I live in the greater Raleigh/Durham area (specifically Oxford, about 30 minutes north). 

I see you always posting these long winded diatribes, but are you able to point to specific instances of a mobile home park operator being prosecuted for said infractions?

What about overhead not tied to a specific project?

As far as the 1st question, lenders farm out the appraisals unless you are getting a home equity so I don't think a specific lender does or does not give more favorable appraisals.   

Specifically how do investors running these projects make money.

Hi AndrewThat's a tough one because tax rates seem to vary from state to state.I'll give you a quick example: Salt Lake City, Utah $300,000 home with an annual tax amount of $2,500.Detroit, Michigan $35,000 home with a $2,500 annual tax rate.Pontiac, Michigan ( different county that Detroit but only 20 miles north of it) $35,000 home with a tax rate of $700 annually.In the midwest and west I see an NOI of under 6%, in C grade neighborhoods.Select areas on the east coast and surrounding region I see NOI's of 9% to 15% in C grade neighborhoods.Property Taxes are the same whether the home is held personally or in an llc.I hope this helps, please feel free to send me any Specific questions and I'd be glad to answer them.Good Luck.