OMG, that ***$%^& let his brother go CH 7 bankrupt?

Remember to take a look at the State Income Tax Rate - and this rate will be going up since the state is practically bankrupt.

Please don’t take this house from me and bankrupt me.

The at risk amount here would never bankrupt anyone (god I would surely hope not) so the findings of Round Two in this case doesn't matter much, other than all those reading the Tenant Forum have be cautioned on what NOT to do.Here in Calif, filing for an Entity is an annual $800 fee, so not filing would cover the 'lost' from this case in two or three years (actual deposit in question never stated) - - some $15,200 in my 19yrs of no law suites.IMO, advocating an LLC as protection in this case is laughable. 

You will end up bankrupt.

what are you going to do if or when your heloc is called .. remember helocs are not fixed term financing they are en extension of credit and can be frozen or called at the discretion of the lender.now if you have a hundred grand in cash sitting in the bank and can easily pay it off that's one thing.but these exact scenarios is what bankrupt untold thousands and thousands of investors when the market turned to the worst or they had extended tenant issues.100% leverage for 3600 a year potential gain to me if far to much risk.

I have a friend who I learned a little bit about Real estate and jumped right in, buying an empty property that needed rehabbed in a very bad neighborhood and he ended up going bankrupt due to naivety.

I’ve done a lot of things from being a bouncer to a haunted-house monster to a professional writer with a bunch of novels and novella including an Amazon #2 bestselling horror novel (you just can’t beat a new Stephen King book) before my publisher went bankrupt.

Then sister went bankrupt, and I bought her 10 acres and house, where I reside,  from Fannie Mae around 2008.

Also the depreciation laws for tax savings have a couple of major loopholes which can save you a large amount on income tax.The negatives are close to zero capital appreciation, a declining population due to the lowest birthrate globally (currently dropping 250,000-300,000 people a year), floating rate on most all bank loans (although it's a near certainty these won't be going up anytime soon as its been said if interest rates in Japan hit 2.5% the government would currently go bankrupt), and the highest debt to GDP ratio of any country in the world putting a dampening on future economic outlook.For net yields you're looking at 3-6% in and around Tokyo, 6-8% in the other major cities, and closer to 8-10% outside of that, although there are always lots of exceptions.