The judgments many times are worthless as the tenant filed BK or they are judgment proof ( move to a cash paying job, have horrible credit, income is lower than Federal poverty level so can't garnish, etc.)In your state it sounds like they file and string out so the judge could give judgments because they filed and answer and appeared.

There's little you can do about the state and federal taxes.

Run your deal by First Western Federal Savings Bank firstwesternfederal.com) and NASB (nasb.com).

From Fair Housing--It's Your Right In the Sale and Rental of Housing: No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap: Refuse to rent or sell housing ...Perhaps "source of income" is covered elsewhere, but its not a protected class for federal fair housing.

@Derek Steinmetz FYI the following is straight from the 92900B that you will sign in an FHA purchase loan: "Do not falsely certify that a property will be used for your primary residence when you are actually going to use it as a rental property""Penalties for Loan Fraud: Federal laws provide severe penalties for fraud, misrepresentation, or conspiracy to influence wrongly the issuance of mortgage insurance by HUD.

Its a disclaimer paragraph added to Form 10492 which is a Notice of Federal Taxes Due that's sent out to fiduciaries.

That is a felony in New York and at the Federal level.

You should be able to go to your state site or the federal one and look at your options.

american heritage federal credit union if you are interested pm me me and Ill give you my contacts info

This means that all the LLC activity is reported by the owner and the LLC files no separate federal tax return.