. :)  remember you are max leveraged and with commercial loans are doing PG I am sure and .. not only that Texas is dual action state if you default your going to get personally sued.. that would be my main concern.. is that much debt 3 million worth 10k a month spread between partners.. for me NO WAY..

Excert from IRS Pub 544, pg 33Installment Sales.  

I have a feeling we will see more of these articles, and Yes a big crack down on lease options.http://www.post-gazette.com/pg/07210/805351-85.stmhttp://www.post-gazette.com/pg/07217/807147-85.stm

You can also advertise that you are holding an open house for a few hour time slot.

So for example, if I cannot fill the December time slot, I will allow a 2 week rental over Christmas at $1100 a week and at least make a little profit.

They could go all digital slot machine style and hit buttons on 300 rentals in 1 minute if they wanted. 

If you slot the expense for the rehab, does that mean you should never use the saw in your rental, unless you have your rehab company do the work?

PG

I think the PG is standard for LOC now.

Pg 25 "If the landlord locks the tenant out of the leasedproperty, puts the tenant’s possessions on the street orotherwise takes the law into his/her own hands, thelandlord may be liable for damages for wrongfuleviction."