That will not be the case if you buy as a short sale.Last question, if you buy it, lease it for 5 years, you have maintenance and repairs,  not knowing what you'll have in the property, or having an insured loss, can change your ability to profit, I'd think hard before agreeing to sell under its estimated MV or simply adding to your purchase price, neither price you mentioned has anything to do with the MV, so it may well look more like a loan or sham type transaction.

One way would be to have a domestic corporation (LLC) that can have members made up of other domestic LLCs in other states, each of your friends would have their own LLC then that LLC would simply be a member of a "parent" managing entity.

A short is simply when a Mortgagee accepts less than the amount due.  

It will benefit you in the end when you are the expert and not simply relying on the advice of someone else.

I have already been approved for the mortgage for the new property and would like to move into it as my primary residence.I am wondering if since there would only be approximately three months of time that I would be in violation of that clause, if I could simply not transfer my insurance policy to a landlord policy until after the year has lapsed. 

This is where you will begin the learning process and the building of relationships necessary to have someone available to partner with by simply making a phone or two.

I'd argue these are *core* abilities for a RE business, not something to outsource for long term success.I'll grant that setting up your company to scale means your company could theoretically reach 2x by simply doing more of what you're doing now.  

If only for resale then it doesn't.Dealers do have a higher threshhold to show intent simply because your normal model is to buy to sell.  

Start a conversation with him and simply ask him.

Then once under contract, I would simply look to sell the LLC (wholesale).