If you have a mortgage, you can quickly apply for forbearance with a simple phone call that will delay your mortgage payments until September, however you MUST remember that that balance will all be due at that time and if you cannot make the lump sum payment you will have to ask for payment restructuring (which could affect your credit). 

I'm not sure how to proceed with this idea my husband and I have so I thought I'd ask all of you.We owe approx $86K on a house in FL as a first mortgage and then $5000 on a second (of which $2500 is forgiven every year from a loan restructuring we did a few years back and we are due to have $2500 forgiven this March).

So any advise on how do my wife and I restructure our business where I'm still part of the business but not a member/shareholder that has to take a "reasonable salary", short of making my wife the sole and 100% owner.  

I never try to restructure the deal to make a residential deal into a commercial deal.  

He owes around 7k in taxes from years past and I believe will have the home repossessed this year or next.It hit me a little slow but I though I could buy the lien from the tax assessor at a discount and restructure the payments so he can afford them.

Why not restructure it so all the associated costs are on your side and you give them their walking a way number.

I know eventually I can raise rents and restructure things here and there, I'm just curious if there's anything that has to be done, inheriting tenants that already have leases.

I'm less interested in whether my investments were smart or not cause I am breaking even and more interested in recommendations on how to restructure my properties so that I can claim the expenses on my taxes.  

I want to build wealth in real estate; I've restructured my life to be able to learn and immediately apply and take risks.

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