The LLC rules still apply to any Fannie Mae loan, though.

Since I have been living in it I have been doing the work myself and I have put a ton of work into it.I just went to the bank to apply for a HELOC and they valued it around 208k.

If you answer the above questions, I can PM over to you the section of the code the applies to you project and if you read through it, it will all start to make a little sense to you.

I'm brainstorming on the expense side this evening, and I'd be interested in hearing turn-around stories from properties you have purchased, tips or tricks you apply to your individual properties, or any other broader concepts that have helped you control the expense side of your investments.I just purchased my first duplex in July and am currently renovating one of the units.

Taxes on the lot are just over $500 a year.Hypothetically, in just 6 years if I apply all revenue to this remaining loan I would then cashflow $200 a month roughly in revenue by owning this small lot free and clear.Any wise words of wisdom out there on what you would do if this offer presented itself to you?

Other fees, liens and such may apply.

With that being said, many of the investment strategies mentioned still apply.

If you apply an effort to learn the things critical to your preferred method of investing, you will know as much as you need to get started in a MUCH shorter amount of time.

You should be able to look up the state rules on procuring cause and see if they may apply to your situation.

The note principal received is broken down into two amounts basically, the receipt of money applied to the basis and that to profits.