The CFPB erroneously reported in their recent white paper, Manufactured Housing Consumer Finance in the United States that 52% of the chattel loans made were made by five organizations.2 The CFPB white paper was incorrect because they based their data on HMDA reporting, which the great majority of lenders have not been required to submit under the small lender rules.

When I read your initial post, I incorrectly arrived at the conclusion you were new to real estate investing.

I wouldn't put much energy in correcting them. 

Bill, unless I'm reading this incorrectly, doesn't it advise on your firm's website that 12 months is sufficient? 

As a result, each new person is propagandized with the same incorrect information. 

In regards to the regarding of the soil, I have seen the costs that the HOA incur in the 5 digit range (for large properties) because of the liabilities of it being done incorrectly where it ends up damaging a neighboring property. 

You are using a lot of made up numbers incorrectly.  

With your dad being a doctor I would assume (perhaps incorrectly) that he is fairly well read and has an understanding of the stock market.

You bought the home for $75k and claimed that as your cost basis, which essentially means you have valued your land at $0, which is incorrect. 2.

I will expose the incorrect thinking below.But first, let's discuss what an LLC actually is.