(Not everyone qualifies for the 401k)There's much misconception regarding the role of custodians and administrators, as well as the extent to which they should be relied on for advisory services - if at all.There are many excellent companies, but as the number of custodians/administrators has swelled it has become increasingly difficult to navigate the space.

In my previous post, I was merely stating popular misconceptions that were created due to the actions of a relatively small number of criminals that operate freely within your industry.

I guess I had a misconception that being a landlord out-of-state was very easy and property management companies were a waste of money and time.

Sounds like you have a few misconceptions about REOs.

Let's chaulk up this thread to some minor mistakes or misconceptions and start over.

A misconception in the OP post, the borrower requests that the note investor get a shot at buying the loan.

Also, @Scott Voytko, the river thing is a common misconception.

The success rate of this plan would flirt with zero if not be negative for it's legal issues that could arise.Wendell, you have misconceptions over what this all means too it seems, unfortunately.

as far as getting the damn people out to even look at it and contractors needing work...I can't speak for other contractors but I have noticed an increase in the small misconception that contractors work for work over the last few years.

You reinforce this misconception again by stating that a $275K property yields a $10K annual depreciation deduction.