I used the Company Corporation and I had my lawyer review their docs (they were fine) and I am meticulously insured.

If you can find good tenants you should be fine....NOt too sure about flipping, but Im going to start marketing to motivated sellers here in San Antonio, so if you are looking for a wholesale deal hit me up....

I said, fine, let's go to $55,000. 

A fine line I know.  

If you had a note and a deed of trust on the subject property then sure that would work fine but it sounds like your saying to use a heloc to buy another property in cash.

Those both can be high in CA but they could be fine and not hurt the cash flow too.

What about waiting to the beginning of August to have a feeling of the time necessary to finish the rehab and if you think it will be ready on time then put the coming soon signs in the yard and in CraiglistThe tricky thing here is the last days is when you can see a real difference in the house, when the last touches are been doneYou are more likely to get top dollars when people see fine finishings and everything is clean and polished, but maybe receiving a little less money is better that sit and wait paying holding costsgood luck

I will cooperate with this as if it is true, then it will be fine.

I think you're fine either way.

A couple bought their home back in the 90's for x amount of dollars, well it is well over that price x today, so they have been advised that they could turn their residence into a vacation home(and conduct it as an investment) and rent it out for a set amount of time( of which I do not know) after that period has passed they can then use a 1031 exchange because that residence is now used as an "investment property"Obviously, I am no attorney or expert of any kind but I'd assume it was legal to do this as it is quite common here(shady, definitely) but it is what I have seen and am not saying I agree with it or presume to know the fine tuned details of what else transpires.