Fannie Mae First Look:
I am looking at a single family Cape for investment and it's an REO owned by Fannie Mae on their First Look program, targeted at first time home buyers. I have read that people are setting up single property LLC's and buying the home under the LLC, any credence to this?
The l.p. is $164,900, Zillow at $265,000. This would be a buy and hold (HUD Section 8 pays $1441/mo) as Fannie is trying to eliminate flipping. Thanks!