Hi BP,I have a quick question.I want to do a quit claim deed on the properties that I own to move ownership to a LLC, I formed the LLC everything is almost done, but now my attorney tells me that he couldn’t record it with the county until I get approval from the Village, which means I might need to pay stamps, do a final water reading, get a village inspection done etcI just wanted to see if you’ve done this before, is this how it normally works?

After about 12 months of studying and another 6 months of placing offers (I was out-bid on about 20 places), the stars finally aligned and I was able to complete the deal.

This year they became unresponsive and I finally reached out to their insurance on the COI.

Equity only means that you are free to negotiate price within range of your equity as the proceeds would at least cover your mortgage.

Finally, when tenants had gas company out to turn on service, they couldn’t do so, as there was a leak.

But if you spent a total of $500,000 ($300K to purchase and $200K to fix up not including closing/holding costs), then you're still short by $50,000 in the end.So you need to negotiate numbers that work up front so you can pay back your private lender(s), have a bunch of cash of your own to bridge the gap, or walk from the deal.But this is assuming you borrow ALL the money.

It is finally coming into fruition as we speak. 

Ok final update.

Like I said, this is finally beginning to happen.

They'll also then be able to reflect these strategies on your return.If you are going to be doing lots of deals, consider a CPA that understands setting up systems within your business that can help you make better decisions and make more money (weekly profitability reports by property, weekly project reports on rehabs, etc.)And finally- if you are planning on doing your own taxes, don't do it the first year.