There is an excellent movie quote that describes the situation in the real world very succinctly (and bonus points if you can tell me what movie it is from). “What the American Public don’t know is what makes them the American Public.†Truer words were never spoken.

Tie this little dodge into the history of intelligent and brutal business sense & it just heightens the respect for these sharp dudes.They both get to watch their "competitors" take it on the chin PERSONALLY now, while JPM & GS execs spend their "private" bonuses on the French Riviera all by themselves.http://www.bloomberg.com/apps/news?

There has been one development since I first posted this article and that was Chris Dodd first denying, then admitting he wrote the AIG bonuses into the bailout legislation and admitting that one member of the Obama administration was involved but refuses to name who that member was.

And he's trying to pull it off while distracting you with fake rage at AIG bonuses that his administration wrote into the outrageous stimulus package.

You cashed out 70% of the appraisal for 308k, so it sounds like you ended up with your entire 305k cash back, another 3k cash "bonus", and then 30% equity in a 440k duplex that generates around $1200/month NOI. 

We already had a de minimis $2,500 exception, and now we have 100% bonus, and Section 179 is now available to landlords.

I wanted to share with you all my success story.I found the property through the hard work of my nephews (age 16 and 17), who I tasked with some D4D (Driving for Dollars) last summer I paid them a low wage, but promised a percentage bonus if I closed a deal within a year on any of the houses they found for me.

The equity doesn't do much good if its sitting in the property, appreciation is a bonus and its speculative.

The other bonus here is by the time you are required to do maintenance rents have increased enf so cash flow stays current. 4.)

Bonus: The property manager that TJ uses, Matt, is really awesome too.