For example, if you purchase a $500k legal balance (unpaid principal + accrued interest/fees) for $200k, then rehab and sell the property for $300k, can you write off the uncollected $200k (the $500k - $300k difference i.e. not pay taxes on your profits, as on paper as the lender, it is a "loss")?

However, when I eventually go to acquire a loan for the rental property purchase in the next year or so, wouldn't the full mortgage payment on paper count against me (debt to income ratio..?)?

I am looking at several buildable level lots for sale in the Los Angeles area, they have real streets not paper streets, they have houses most of the times on both sides... is it still a wise idea to build on a lot in L.A from scratch? 

He also describes them very well, so you don't miss out at all.His other book "The Book on Investing in Real Estate with Low and No Money Down" is also great, but unfortunately the reader is pretty terrible and distracting, so I suggest reading it on paper or Kindle.I wish more Bigger Pockets books were available via audio!

For example I provide two towels to each traveler and at the end I tally what I provide and if things are ruined or take.

He/She may have to use a RMLO to draft this new paper to be dodd frank compliant... 

If they are family, and they meet your opening standards, you would be wise to communicate with them what the next step would be; rejecting someone on paper for no apparent reason could leave you open to a discrimination claim.

The problem is that our primary residence is in my name and I don't make enough working part time as a nurse to cover our primary residence mortgage and do a second home mortgage on paper.

The only thing is my regular job as a nurse I don't make enough to cover the cost of our primary residence mortgage and the second home mortage on paper.

He was saying something about putting it in the local paper and wait for a response from missing heirs?