@Marie SandersCount your blessings.

That's what I did on my first deal, and it's been a blessing since.

Anyway, I've personally witnessed several attempted sales fall through as soon as the huge flood insurance quotes came in.

Now, any home under 60k is a blessing.

This site is such a blessing!

@Karen Margrave @Bill GulleyBill not only has my RE attorney created the document we have it registered and blessed by the department of corporations and securities in our state.And when I have done these for outside investors the profit that was made on the note ( if we held the property more than a year) was deemed capital gains.Of course every state is different and JV's are certainly just fine to do.

I suggest you see your attorney and get that straightened out.I've been point stuff out here for a few years now and sometimes what comes back from investors is that they had their deal approved or blessed by their attorney, so I'll head that off if that's the case, if some attorney approved that, find another attorney.I'd say you're a creative guy, a real salesman, talented in the art of negotiation perhaps, but you should not be writing notes, it's not the wild west and things surface in time, so be careful out there. :)

The receiver can act autonomously with the blessing of the court giving him/her power to take temporary control of the property and manage it accordingly.

From what I have witnessed a lot of the buy and hold investments going on in SoCal were plays made years and years ago, bought during the recent market depression, or are what I call a loss hold investment.

And if that is so, you might even mention the possibility of selling the MF home to the builder as well, for lot value.I often find that the things that seem like a disaster when we're standing in front of them, turned into a blessing, when we look back a year or 2 later.