When people replace their old homes, you can possibly get those fairly inexpensively if they fit your spaces...Best of luck!

Also, I'm looking for something to keep me busy as I ease into my retirement.You are trying to hack the primary residence part to reduce taxes and if you really can do it and you really live there then it will be fair, but if you deviate at all, the town will come for you and you will never get anything renovated if they think you aren't living there and it's not liveable.

Quick response and a fair cash-for-keys offer is still the fastest and least expensive way to get someone out who isn't paying.

Of course I did that.... before even posting on Bigger Pockets, but I'm not seeing anything specifically about this company, just a bunch of businesses with similar names that do construction.  

Now, if for whatever reason this was a fair allocation, and the 5-yr property indeed lost 90% of its value while in our hands - then the impressive tax savings they boasted about would be valid as well. 

@Lisa H. why does paying "fair market value" matter?

There's a bunch of suffering people right now in syndications that to some extent followed this line of thinking - XXX is famous so S/he must know how to run a syndication.

You can fairly collect some form of compensation for being the managing member.

I read that the government (village in this case) takes ownership and pays fair market value to the owner.

Hi,I am fairly new to real estate investing.