@Gerald Koonce Private lending from family members is allowed with proper documentation and compliance.

Permitting also secures compliance and avoids fines, which can be significant in LA.This post does not create a CPA-Client relationship.

This approach saves you time and effort while keeping you in compliance.

Do what you need to do to get in compliance w/ local laws to serve as a property manager.

I am surprised these lending institutions don't regularly run algorithms showing which loans have been assumed Seems like an relatively easy thing to do to regulate and in a way minimize risk - maybe have more defaults but still maximize their loans by forcing compliance 

- Compliance - always making sure we are following NJ State Law.

@Maria JeanetteTax Advantages: Income and gains grow tax-deferred (or tax-free if using a Roth SDIRA).All Costs Through the IRA: Expenses (repairs, taxes, etc.) must be paid from the IRA, so ensure it’s well-funded.You might also want to consult a CPA or attorney experienced with SDIRAs to ensure compliance with IRS rules and maximize benefits.Best of luck!

I know what exactly it takes to obtain a post-construction permit to bring any un permitted structure into compliance.

You need to set a deadline for them to correct the issue, then follow up with an inspection or other method to confirm compliance.

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.