He also has a great (personal) network throughout Australia.

Purchased our first true purpose bought Investment property that brought us up to 6 doors.Completed first JV bringing us to 8 doors8 days in Spain and a month in Australia for Sari and I... thank you Canadian Navy for the work trips!! 

Now your comments exhibit plain ignorance...

Here are the rules:Passive Activity Loss ATG - Exhibit 2.4: Real Estate Professionals

I may consider selling between $715-735 to help keep my shirt firmly on my back or at least reduce my loss after fees.As for the possible fraud: I pulled paperwork last night and the allotment was listed on the HUD, had a signed addendum, and an extra exhibit lisitng the allotment, all signed off by my lawyer.

However, heading into the fall it will be difficult to sustain that momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.

I know I have been in my market in Australia.

But the sign of a good HML is how they work deals out as well.If your borrower goes dark on you .. well its Katy bar the door.. if your borrower exhibits top notch Character then you go to the ends of the earth for them.that's my take on it..

Is it for investing in Australia or USA?

Generally assets are attached to the contract as an exhibit in a referenced schedule of assets.