Somehow, in his smooth rat brain, he thought that was the secret to making money in real estate -- getting other people to do anything that looks like really hard work with uncertain outcomes for you.It all put me in mind of a well-known passage from one of Theodore Roosevelt's speeches:"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.

If not, would I ever be able to do anything in order to sell the property counting that square footage?

Text is not legal communication for proper notice regarding rentals.It's a good way to remind people. might work out for late rent reminders for you.. but if it get's beyond that.. paper trail.. and emails.. don't count either.. 

Chris:Based upon your post above, I personally would pass on this "opportunity".The owner already has {potentially} $36,000.00 worth of other leans on the house - not counting the tax arrears.  

It really depends on the area and if Zillow has accurate information on bed/bath count and sq ft.

They are counting a portion of the HELOC against me even if it is paid off, they assume you will always use a portion. 

What it’s worth is irrelevant.....it’s what you pay for it that counts(and yes you can include repair/improvement costs If done properly, and within the 180 day window)

You'd deposit the properties into the trust - it's irrevocable so you can't get them back BUT they don't count as part of your estate anymore (especially useful if your estate will be over the $5.5 million threshold - for now anyway).

From my research i've come across programs that aim to help first time buyers reduce the down payment and associates costs, FHA, sellers remittance, 401k funds, counting 75% of rental income towards my income for qualification etc..I've been hard at work saving at the ripe age of 23 to the point where i'm confident that I am close to making the leap.. 

These are tourists who appreciate nicer things like bedsheets with high thread counts and handcrafted solid wood furniture.