Hi all, I own a lot outright ($190k) at the Delaware beaches.

:Sorry about the delayed response @Wendell De Guzman.

Do you know how to claim various safe harbors (de minimis, small taxpayer, etc).

If I were to flip it though, I would update each unit (kitchen, bathroom, flooring and paint).My opinion is to get it under contract for cash and assign it to someone that invests down in that area of Delaware County, Pennsylvania.The owner of the property seems motivated to downsize so I'm likely to be able to negotiate him down - he's asking $200,000 for this property.

Bill Maxted, a researcher at De Montfort University said, “There are more lenders in the market and there is a real competition, with interest rates margins falling and loan to value ratios rising, there are some quite aggressive terms being offering by debt funds in particular.”

@Marty Summers As long as you're not a licensed agent, there's nothing wrong with you contacting the seller directly, but the seller's agent should have insisted that all communications be run through him to prevent the seller from saying something that weakens his negotiating position.I suspect that if you got the seller to de-list, you could be sued for interference in a contractual relationship.Also, the agent is under no obligation to de-list while the contract is in effect.

Next, the GP which owns 1% should be a Delaware LLC because Delaware corporate laws are well established and business friendly.

Who do you think was de-frauded?

A lot of people go with Delaware LLCs although most of those people couldn’t tell you why they just heard it’s a good idea.

I am looking to do this in NJ or maybe even possibly Delaware.