Conversely, not qualifying as a real estate professional under Sec. 469 does not mean that your rentals cannot rise to the level of a trade or business under Sec. 162.We also have this little snippet on Pg. 44 of this  IRS Pub:Additionally, section 469 is a loss limitation rule used to prevent taxpayers from sheltering passive losses with nonpassive income.

I invested in Port because I found PG too far to manage.

. :)  remember you are max leveraged and with commercial loans are doing PG I am sure and .. not only that Texas is dual action state if you default your going to get personally sued.. that would be my main concern.. is that much debt 3 million worth 10k a month spread between partners.. for me NO WAY..

Excert from IRS Pub 544, pg 33Installment Sales.  

I have a feeling we will see more of these articles, and Yes a big crack down on lease options.http://www.post-gazette.com/pg/07210/805351-85.stmhttp://www.post-gazette.com/pg/07217/807147-85.stm

PG

I think the PG is standard for LOC now.

Pg 25 "If the landlord locks the tenant out of the leasedproperty, puts the tenant’s possessions on the street orotherwise takes the law into his/her own hands, thelandlord may be liable for damages for wrongfuleviction."

Anyway, I have a question for you: Is it possible to do property searches based on the legal description of a property ( such as: LT:6 BLK:F BK:73126 PG:1712 CITY:RICHARDSON SUB:CARRIAGE SQUARE ) ?

disregard my feeble attempts to create a pg.3, I only do it to add to my post count. anyways, Jim, I agree with your saying here, and b/c of that Davids posts are making more sense now that I know from what angle his perspective is coming from.