If you do not pay yourself a reasonable salary for a repeated and ongoing active investments the IRS and State Revenue Agency may come after you.LLC’s are by default treated by the IRS as pass-through partnerships (or disregarded entities if a single member/owner), which means profits and losses flow right to the owners and are added on to their income to be taxed and are not taxed first at the company level (i.e. no double taxation).

My price range was between one and 2 million and I was going to use the home part time and place it with the rental agency the rest of the time, .

I think borrowers get confused with residential lending practices by the agencies and everything else.

Even government agencies don't want to do paperwork.

I would go talk to the planning department or whatever agency handles new permits.

I'm a photographer by trade - I've shot for ad agencies around the country, traveled from Japan to Jamaica for weddings and have billionaires among my portrait clients.

The agent needs to introduce the property, you could run all over the state and buy other properties without the agency being applicable if you do it on a property basis.

Chances are you will - have a deficiency judgement, - if there is a second mortgage you will owe that money, - the IRS views the debt as forgiven income (see a CPA), http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-- your credit FICO score will drop as much as a foreclosure,and - your borrow-ability with any government agency like FHA will be harmed for a long time.So what is left?

And the process/service agent name and address is available from from whatever agency registers corps in your state.

Most section 8 agencies do this to make sure landlords provide a safe and functioning place for their tenants to live.If you want the section 8 tenant out then there are protections in place and a certain way you have to go about it.