Otherwise there's an incentive to take a 'poison pill' ... where someone going into foreclosure could rent to himself for a $1 for 30 years and render the property worthless.A good attorney should be able to help you out, but I'd get out of this deal and come back at it with better info.

Lastly all carpet will pill (where strands of the fiber shed from the carpet) when they are new, but polyester will do that much more.

They can turn around and sell and pay no tax at all.I was waiting for the "discount poison pill" link lol

Thank you all for your reponses. you've all just said the same thing i was thinking, I guess I was hoping for that magic pill.

Bill Gulley I always look forward to your advice, even though it isusually a tough pill to swallow for newbies as sometimes it shoots us down.

Having to replace a roof less than 2 years after spending 25k on a rehab is a bitter pill to swallow.

I read the Ultimate Guide to Real Estate Investing and now its time to choose the red or green pill.

Due to the way I sent the mailer along with the machines the envelope runs through in the post office, the pills ground to a white powder.

That makes 3 of us that took the red pill

It looks like you took the red pill and can see through the guru babble.There are valid reasons for using an entity or a series of entities but for the average investor just starting out, a good liability policy is all they need.