There are many other pitfalls to look at also.

I would likely take the money and run too avoiding any pitfalls.

JScott...So many folks here are seemingly so incredibly well versed in the law....so many have warned of the legal pitfalls I face in such a quest as mine...so....why on earth would I not therefor begin to think...

Now I'm replenishing my cash reserves from all the pitfalls involved with an Army PCS that goes tragically wrong, including a house that sat vacant for a quarter while unexpected repairs and a bout of bad PM kept tenants away.

My son is going to the University of Florida this fall. Although freshman must stay in a dorm their first year, I am looking at a 4/4 just on edge of campus so he has a place for soph-senior years,which will cash flo...

Go into the podcast and the learn section and learn how to crunch the numbers and you will avoid a lot of pitfalls.

With that said there are pitfalls to watch out for.

I have not ever do this before, so I want to avoid any possible pitfalls.

What are the downsides and pitfalls on acquiring and managing this type of investment?

You should consider starting a blog to document your progress as you continue along the process to help others that may come after you avoid the pitfalls that you may have found yourself in.I'm originally from Southwestern, CT and it's good to see other members here from our state.Be sure to let us know how the selling end of the deal works for you.