In some places they're as good as a proper duplex, in others they're only allowed if the owner lives in one of the dwellings as a primary, etc.

I asked why many do not meet in Chicago proper, and all give me the same answer. $$$$..It costs so much to get a room, and/or spring for a guarantee in spending of cocktails or food from the attendees.

Hello all,I'd appreciate any helpful input from the BP community. I've been told by my family that a rental analysis should calculate income with current rent, versus market rent, if there are tenants currently living...

If it gets set up properly the earned income rental tax issue shouldn't be a problem going forward, and if for some reason they have to go back and pay adjustments on past income earned that's what get's done. 

From there you can do some proper projections on possible future returns.  

It would be impossible to close in two weeks, with a short sale.  90 days is a typical requirement to get Actual bank approval, thus the time period stated by the seller, and closing a few weeks after that.....SOP.Also, you/the listing agent needs to know about any other junior liens that may need some contribution, other than what the first mtg. holder will offer, in order to properly structure the offer.....the most over looked step in successfully completing a short sale.Also, there is no value in a seller taking his property off the market for 90 days for an offer they know the bank is highly likely to reject, hence the reason to negotiate a reasonable price up front.

Having a good eye for colors and properly staging a property is also important in my opinion.

If you're borrowing from your personal residence HELOC to then go ahead and loan it to your LLC, then make sure that your loan to the LLC is properly documented, otherwise IRS will look at it as a capital contribution.

A LLC will ultimately not protect you as well as proper insurance coverage which you need anyway.There was a post not long ago asking if anyone had actually been protected by having a LLC and I believe there were no positive responses.

I would ask the title company to send out preliminary title showing the wholesaler as the Seller, because that will be the case when they properly carry out the double close.If it turns out the wholesaler MUST hold the property, then the 3 point upcharge for funding is fairly reasonable but it is the wholesaler's responsibility.