Here in NYC you can find the best deal ever and it would still not cashflow (which defeats the purpose of the BRRRR strategy). 

For a time I was looking at duplexes but found the only thing I could afford were abandoned properties in or near the worst areas of town, after that defeat I started looking for properties on the MLS to flip but because I needed financing I couldn't compete with cash buyers.

https://www.theepochtimes.com/...the federal moratorium has been defeated, but liberal states are creating their own.

Either way that situation pretty much defeats the point of buying at auction, might as well just keep the $100k in the bank and save the stress if they will just take my profit.

But looks like it would be wise to not have our names on the policy as it would potentially defeat the purpose of having an LLC from an anonymity standpoint.

If you fly out I really hope it will be to find a new PM, because that would defeat the purpose of having one. 

What we will not allow is unsecured debt to be the down payment or closing costs because, historically when that was allowed, some huge percentage of the time that "unsecured" debt was recorded as a 2nd mortgage on the subject property the day after closing, thus entirely defeating the purpose of "skin in the game."

But making your sibling a manager defeats the whole purpose of IRA LLC which is to be in control of your retirement funds.

I think that Del Walmsley would be the FIRST one to say that his program is not at all about flipping houses...in fact, kind of the opposite, as that would defeat the purpose of his mantra:  "We're not doing this for the money, we're doing this for the Lifestyle..."  

In order to defeat this type of redemption, the investor must adversely possess the property for three years, starting on or after the tax deed date.