That is an interesting brand concept.

I'm sorry you got sucked into that thinking it was a legitimate real estate course, you'd be better off forgetting the old rent/lease to own concept as now you have Dodd Frank to contend with, that's federal law.The only way you can hold on to a property is by not selling it, so are you saying your tenants can't buy?

Welcome to BiggerPockets Edward and best of luck investing!

Hey Mike,An LLC is a legal concept which provides a great deal of limited liability protections.

It sounds like you grasp the concepts well and know what to do.

Please forgive me as I am new to the concept of private/hard money lending.

Due to lackluster service and better pricing elsewhere, I did so with a different lender.Since then, I've learned about the concept early payoff recapture, and, not wanting to cause any problems for my previous lender, I inquired about the recapture period on the previous loan.  

If current fed gov't plans keep rolling in the same direction, well in WI we burn lots of coal right now, they want to just kill that off sooner or later and that's not good for our future rates and one bit of useless trivia I know is that IL has more nuclear plants than any other state, not sure where that concept is headed after what happened in Japan, but I doubt it will help to lower costs for nuke plants!

@Edward Rhoads has a good point about their classification practices when it comes to adjunct positions as well. 

Originally posted by @Edward Rhoads:$40k can if you are careful buy you a house in an okay area in Indianapolis that has a market value of about $60k and cash flow about $400 a month.