Eric,Presuming your contract is assignable, you are essentially auctioning off your contract.

Now that you notice the other two properties, after you get with your attorney and understand the impact of the law suits, remember knowledge is power.

Its essential as a rehabber that you have a look at all possible comps so you know the worst case, too.

. - how the profit would impact my taxes I haven't done seller financing or a lease option but I would go the seller financing route.

My original plan has been to purchase a town home in Texas and then live in it off of the saved up cash flow while in school so that I can essentially live there free.You said in your post that a conventional loan down payment was 3.5-5%.

On the partnership, which is an LLC, our lender allows us to bring at least half of the 20% down as a Second Note from Private Lender as long as the DSCR (cash flow essentially) stays in their criteria.

Your personal credit profile will define how much or less of an impact it will make.

Want to get your advice on whether I should pursue this deal, its a huge project.I have been offered first shot at a 10K square foot lot zoning LR2 , which essentially allows for cottage, townhomes, row, or apartments two stories high.Its in a good neighborhood next to a park and the neighborhood next to it is one of the nicest in SeattleWe are close to finalizing price and terms.

I know BP hates guru's :-) However, I did some bootcamps this year. I know what money I spent wisely and which I wasted. Please save your breath on that.

My question is, am I able to write the cost off? (Th...

Forming an LLC now, minimizes risk and will not only offer you the financial protection of only impacting your properties under the LLC, it will also give you tax breaks for everything you purchase under the LLC.