And fined retroactivally.Additionally, if a tenant has an accident (slips/ falls/etc), or something goes hugely wrong with the dwelling (fire/electrical/etc), your insurance WILL NOT COVER the claim.

I'm sure there are some slight technical differences, they won't tell you about until it is time to deny the claim.

DSCR is the most common way to get around the LLC vesting and DTI requirements, although some people quit claim deed after getting a conventional financing.

Would you work with attorney on lawsuit or file everything through small claims court yourself?

@Nicholas Pisano real estate investing is a long-term game, not overnight.Have seen many newbies jump in a buy several properties, then when things don't go according to their unrealistic plans, freak out and sell at a loss.A past client is doing that right now - they bought 5 properties from a high-pressure agent, hired us, micro-managed us to try to meet their unrealistic expectations, terminated us and hire another PMC to "save" their portfolio and went that didn't work out, are now selling 3 at a loss. 

He calls from a California cell phone, claims he is currently in Scottsdale AZ, and then has to look up Buckeye AZ on google maps to find out where I live.

My only recourse is to take them to small claims court - good luck w/ that!

Very few mortgages last 30 years before they are paid off or refinanced. 5-7 years is the average life of a mortgage right now, and 10 years isnt unrealistic.

I ran an O&E and I got:- "notice of election and demand for sale by public trustee"  this is for about 350k and I assume is the lender whom he didn't pay- "MERS assignment of deed of trust"  I'm not sure what this is but I think it's related to a quit claim deed where he added his wife to the deed thinking it would shield him from foreclosure.

Out of the tens of thousands of people who have claimed REPS and had a full time W2, only like 3 of them have successfully defended their status at the tax court.