I would be fairly sure the bank offered you the option of de-winterizing and re-winterizing the house to enable you to inspect the plumbing system.

Its a full 3% in Delaware.

I need to raise some serious capital and have decided to go the route of using REIT - Real estate investment trust.I was considering using Delaware or Nevada, but someone mentioned to me at a real estate seminar, i should use the state where the properties would be located.I am intensively studying the legal requirements as per IRS code section 856.

It is at the end of a cul de sac and my wife and I have decided we want to 'own' the entire street over time.

We took that to heart, de-cluttered a lot (though more should be done) and had new pictures taken.

I also try not to exceed 2.5 D/E for my overall portfolio.

One reason being that this would be considered immaterial and falls under the IRS De Minimus rules.

So the leverage will magnify your gains 4x as well.Regarding jurisdictional issues on lawsuits, I was told by my attorney that the suit would land in Ohio (where most of my holdings are located) even if I set up the LLC in Wyoming/Nevada/Delaware.

The state of Delaware website does not give very much information on month to month.Thank you,Steve

Because the seller may have non-disclosure issues please de-identify the address and such.Good luck!