In most situations, you are required to file state income tax returns and pay tax on your respective share of income.

deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $800/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months, will cashflow $300/month after the refi#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months, will cashflow $150-$200 after the refi#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1150/month, market value is $160,000, plan on refi into better loan in 3 months, will cashflow approx. $500/month after the refi#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $650,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.

Every Owner of a Lot, by accepting a deed for that Lot (whether or not expressed in the deed or conveying instrument) or otherwise becoming an “Owner”, is a Member of the Association, is bound by the provisions of the Project Documents, is deemed to have personally conveyed and agreed to be bound by all covenants and restrictions contained in the Project Documents, and is deemed to have entered into a contract with the Association and each other Owner for the performance of the respective covenants and restrictions.

Our kids are adults so several years ago we went as separate corp's & it has worked here in NY SO FAR with $6500 (individual) deductibles ...but (& without getting political) we have been advised by our carrier that the full force of ACA is yet to hit our respective plan(s).

I have been a part of deals like this.So, I respectfully disagree, If someone dies, any probate attorney would do anything possible to keep from giving the house to the bank, and the probate court would encourage that, If the estate admin filed BK in a probate, or otherwise had other family member pay a few dollars to save their own inheritance, there is no choice.

You should really assess what you goal is with respects to real estate investing and think about how a law degree will affect that end goal (extra tuition cost, time, etc..)

They will negotiate but usually do not respect any deadlines you put in an offer.

I can understand your point though I respectfully disagree.

Greetings Realesinvest,First, with respect to the Tax Deed Process, you may need to know that the Deed may or maynot be "Free and Clear".

In most other respects, Section 251 loans are similar to basic FHA-insured single-family loans: -- Downpayment.requirements can be low—as little as 3 percent.