Basically, what we were told was that the only things that judges usually look at and rip the veil off an LLP and ignore it is when you use it to hide personal expenses, like nice cars, big nice vacations, etc.  

They are not worth the paper they are written on and this guy should be arrested for ripping people off.

I gutted the drywall, ripped out the kitchen, pulled up the carpet.

If the renovation is extensive, you could run into some unexpected repairs like a broken sewer line, or mold that is found when the cabinets are ripped out.

 :)thanks all, Ya your making me laugh. my husband said I was lucky they just didn't throw dirt over me and put a RIP sign above.

I assume you would need to rip the carpet out and install new hardwood floors.

So as soon as the renters in the basement left for work I started ripping up my carpet in the entrance of the house so I could replace it with some nice porcelain tile.

Example of the kit: http://www.homedepot.com/p/5-16-in-x-60-in-x-60-in...Measure the screens (ideal to use the old broken one as a go by, and you may be able to just replace the screen portion if it is only ripped). 

I just got bit in the rear b/c Albany reassessed my property for what I paid for it (duh), which effectively doubled my property tax liability.I'm owner occupied, and with my first purchase I was primarily concerned with simply making sure the income covered operating expenses, and not terribly concerned w/ driving profit, but I was relying on the ~$200/mo I was making above cost to help subsidize fixing up the building, and now I'm about $50 south of the property costs.Paying $50 a month to live in my 4-unit isn't bad, but if this was a classic investment property, I'd be pretty ripped :)

My question is: "am I being ripped off if I accept to give 4% to an agent who is willing to help me through the buying process?"