Okay did a wrap with a seller.Added as a additional beneficiary on the policy.Policy comes up in March.Insurance company was fine putting me as an additional insured but then the owner of the company calls the seller a few months after closing and said his employee never should have told her that.She doesn't have any written communication or a recorded call from the employee saying it was okay just the phone call before the closing happened.Now the owner of the insurance company says he wants to see the seller back on title before he will renew the policy.I mentioned I could add her as additional insured and she said the lender would be required to have her as primary.She is freaking out about the insurance issue and thinks the lender will call the loan.She wants a quit claim back to her and an agreement form her attorney that I manage it but still own it and I can buy her out at a later date.I told her I would not agree to this.We have completed substantial improvements to the property and have gotten out the bad element.What I have come up with I believe will shed light on her true intentions.I am thinking of creating a Joint Venture partnership or something similar where she is given 5% non-controlling interest in the property.This would add her back on title and then the insurance should not be an issue to renew.I am checking with an attorney on this now.Want to get thoughts on this issue.

I have heard that people pay 15% of the equity created.

That creates short term capital gains, but after tax money is better than no money.If you do that, be sure you understand the terms of the lease option and that it has a locked in price up front.

I guess you cold argue that SoCal is over inflated and the rule *should* hold true but these values are sustaining, and the market is turning.

We have spent untold billions overseas that could be used to cut the deficit and ensure future sustainment.

Which would spread out the profits & allow local investors to create funds & compete.

I think my local area is actually good, because I see lots of properties (granted, they are manufactured homes for the most part) that will instantly create positive cash flow.

Even cash flow negative may be OK if you can sustain the negative cash flow.

Hey Brandi, if you create a duplex to sell separately, you will have to subdivide the property which could take a few months(assuming its currently one platted lot).

I have not yet created an LLC, which leads me to question 1.