I've dropped every single property I had under contract with SIH.

Quote from @Ankit Lodha: I have a home under our names.

I would first attempt a 2-4 unit to get the experience under your belt.

Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

started the interest rate at 8.5% and wrote in the contract that their interest rate will change anytime my bank loan's changes (every 5 years) and will always remain 2.5 interest points above...for what it's worth...i have another under contract that hopefully will close soon..i'd be interested in hearing about this wally wrap as well bryan...what was that?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Anyways, on my latest project, the title came back yesterday and revealed two extra parcels of land deeded to the seller under the property I was under contract for.

All that said, it's water under the bridge.

Under the law there is no way around the scam.