The clerk of court catches these (NCGS 45-21.12A Power of sale barred during periods of military service).

@Florence Oxenham, In light of a recent California Supreme Court ruling admitting an ILLEGAL immigrant to the California bar to practice law, I suspect the same will have to be true for all other state licensed professionals and immigration status should no longer be a factor... http://www.nytimes.com/2014/01/03/us/immigrant-in-us-illegally-may-practice-law-california-court-rules.html?

Contrary to popular belief, being labeled a "dealer" doesn't mean that all your properties are subject to ordinary income; likewise, not being labeled a dealer doesn't mean that all of your properties are subject to capital gains.Each property will need to stand on its own merits, and the determination of whether a particular property should be taxed as ordinary income or capital gains will be made based on the intent of the transaction, not a "dealer" label applied to a business or individual.That said, if you are labeled a "dealer," you may find that you have a higher bar set for declaring one of your properties to be an investment as opposed to inventory.

Many people would rather earn less than 100% of the NOI, but be doing it on many times more properties (leverage).As an example, if I offered you 15 full gold bars or 50 half of a gold bars, which one would you prefer?

For the up teenth time, I will state unequivocally Bill Gulley your knowledge of what not to do with money and property and picking up girls at bars is unsurpassed.I still havent gotten over that story of getting the girls ph # at the bar!

I noticed there isn't a search bar to find certain topics..

Welcome to BP; You're experience should do you well on the other side of the see saw; let's hope the mortgage end of the business lowers the bar a tad.

Sabrina Carapia Many folks here in Massachusetts will get a fully executed "Offer to Purchase" contact and sell that, as wholesale, to an Investor.In Florida what's the FAR/BAR procedure?

There is also the possibility of a loan agreement being draft as non-recourse or recourse (when the law allows).So, if the debt exceeds the value of the property and the state is a non-recourse state, the bank will not be able to pursue the borrower personally (barring a separate agreement like a personal guaranty).

Passing the state bar exam doesn't translate to success or income in law.