Having an LLC in that state may simplify compliance with local regulations, tax filings, and property management.

Under the tax lien system, current law, the investor may file a foreclosure lawsuit when its been at least 3 years since the first auction but no more than 10 years.

The purpose of this test is to ensure that the property generates enough rental income to cover the property's mortgage payment, including principal, interest, taxes, insurance, and homeowners association dues (if applicable).Key Points of the FHA Self-Sufficiency Test:Applicable Properties: The self-sufficiency test applies only to 3- or 4-unit properties being purchased or refinanced with an FHA loan.

The person I spoke with excited me about the possibilities; however, when it came time to deliver our XML file of properties, they quit responding, much like ShowMojo, making me think that they were not yet live.

An LLC that has only one member and does not file it's own tax return.

Maybe it's a way to build generational wealth by having a tenant pay down the principal every month? 

Also, you don’t need  $360k if the loan gets called; with a principal loan balance of $240k it would be more like $250k.Whether you do a wrap, sub to, or lease option when dealing with a owner occupant / consumer there are many legal “traps” to navigate because of consumer protection laws at a state level, and CFPB and Dodd Frank at the Federal level.  

I have 2 offers from lenders:1. from private lender which allows me to buydown interest rate (I can do 1-1 buydown) and rest money will be used towards closing cost (19k - 13k). where closing cost is 13k.2. from chase bank which allows me to use seller's credit towards closing cost and rest can go towards principal reduction.

From a lender's perspective there is a risk of mechanic's liens being filed up to 4.5 months (in Texas) after they have been on site. 

Wondering what others have experienced once the amended return is filed with IRS as far as a timeline on when I will receive my return?