This is very personal question to what your appetite is.Personally, if I was as young as you, with no debt or all debt paid off.

., I would not use it if you are running an active businessAnonymity is just a smokescreen; if a creditor sues, wins, obtains a judgment and drags you into a debtor examine, you will lose the smokescreen which is why you need the LLCsOnce an entity is set up with your name (manager or member), then you can not unring the bell which is why if you want the anonymity you should set up the WY LLC before you create any other LLCs

As long as the sale has not taken place you or anyone else can purchase the property and have the loan paid off out of the purchase proceeds.North Carolina is unique in that there is a 10 day redemption period after the foreclosure sale so that the debtor can still pay off the property and retain ownership if the debt is paid off within 10 days of the actual sale.I don't know if the deal is worth persuing for you, but if it is you would be best advised to spend $300 or so for the advice of an attorney specializing in North Carolina real estate law.As a side note, even if you can not close before the foreclosure sale, all is not lost.

Hi Robert,If you use the search feature here for judgment collection etc. a ton of info will pop up.A collection company does nothing but ding credit which most debtors care nothing about.

The Debtor is operating and managing its financialaffairs as Debtor-in-Possession.

We currently have no credit card debt or credit cards.

The trick is finding owner and negotiating with all the debtors. 

You can't finance property on 30-year amortization debt, and instead have to use adjustable rate debt, or debt with 3, 5, 7, or 10 year balloon payments.Understand that in this business you WILL lose money at various market cycles when using OPM. 

The lender will look at basically 75% of rents and include the debt or use tax returns with taxable income to off set the debts.

Please tell us why.If $10k/mo in passive cash-flow with no debt or fixed, long-term debt, I'd rather have the cf if the assets aren't rough and 0r in the hood.  12% is tough to beat stable and long term.