Offer Price: $200KFinancing: FHA loan, 3.5% down payment (already pre approved for this home); 3.875% rate, 30 year fixedRents according to MLS posting: Unit 1 - $1310, Unit 2 - $1100, Unit 3 - $720; Total = $3,130Expenses: I'm forecasting 57% in expenses (more conservative than 50% rule) --> Property taxes - 4.6%Insurance - $1000 policyRepairs/maintenance - 5% of gross monthly rentUtilities - 1% of gross monthly rentCap Ex - 2% of gross monthly rentVacancy - 10% of gross monthly rentProperty management - 12% of gross monthly rentMortgage + PMI = approx $1,043 monthlyCash Flow (monthly): $163Cap Rate: 18.8% (gross annual rents divided by purchase price, correct?)

Their goal was to create a solution by which their past, and now future, customers could continue to use Lonnie's ideas legally.Overall, however, the message you are sharing is correct.

Joe Rampy is correct.

You are correct, your service would make realtors using your marketing tool look unique and more professional on the high end properties.

I think that the member or members in the LLC did not update the LLC address and any notifications to the LLC are probably not reaching the correct parties.I'd like to understand what I'm dealing with prior to bidding on a property, and it appears one of the members of the LLC owns another business that has been around for years and is still operating.  

And brokers that use that old formWhen done correctly, these “deals” are not illegal.I’d say they are more for ‘advanced’ REI and certainly carry some risk when the deal goes bad.From what I see, the problems are investors are not following every requirement in NCGS Ch47G, and/or their contract for leasehold interest is flawed, and/or they lose their buyer.So if you connect with a homeowner that is looking to sell their property and has already contracted with a broker, do you typically stray away from those deals because they might resist these more “creative” approaches?

@James Wise and @Justin Tahilramani, Good catch on my post and let me correct myself (rookie mistake).  

I'll just be involved in the contract.Please correct me if I'm wrong there.

I dont have much time to find my own deals so thats true, but also because this is all fairly new im not 100% sure what im searching for is exactly correct. i know its going to take time but finding the properties is really hard. 

Any one not paid loses all rights (providing the foreclosure was done correctly).