I just made a large multi family purchase in Jamestown and hoping the influx of government assistance can revitalize downtown.

In most cases, tax liens are in front of all liens and mortgages, with Federal lien first in line should there be any.

However, if you are worried about being sued, you should use the best level of protection that you can afford.Your state laws: The laws governing asset protection vary from state to state.

This is generally due to the fact that this is how the American housing giants – Fannie Mae and Freddie Mac – government-sponsored agencies, separate their loan programs.

Man's got a tough job. not only that the MLo and federal NMLS test are quite a bit tougher than the RE agent/broker tests If one has never been in the lending industry.. its not as simple as 22 hours and go pass the test.

I can certainly see what you mean about using SALY as a friend for most years, but unless you want to stay current on all the state/federal income tax laws, you may want to seek out a professional every few years to double-check.

so far smoking is not a protected class.I'm guessing the medical marijuana issue will evolve over time, especially if it becomes legal at the federal level.

Federally, you're likely to pay 15% on the gains. 

@Joseph Hammel get a free version of the online federal tax prep software available from a number of vendors.

I have a couple of tenants that have requested and been approved for government rent assistance and had I financed, I couldn't have kept the properties.Goes to show you that you never know what's going to happen.