Soon I expect even submitting a short sale package will require a check for the full amount to be held until the lender accepts the offer.This is great news for those with good sources of ready funds that don't require any kind of approval in order to use them.If the bailout is approved in the next couple of days and signed by the President as promised this week.

So is PM held accountable?

Exchange property must be property that was purchased and held as an investment or used in a business.

Who is held liable for the extra $100K?

So, the rental market will ultimately dictate their value.The long held investor formula for rentals is rent = 1% of price.

I believe they held about 50% equity interest and provided financing on the remaining piece.

The woman held the property for a full 2 years, paying insurance, utilities (including heat), taxes all the while.

He is interested in the same types of deals that I am -- Buy and hold (rent) real estate, with possible lease options on the back end.I told him that there is a range of options, from him buying the property outright (with a wholesale fee to me), all the way to me buying the property (with a mortgage held by him).

$250K is not only the gross (we killed a gross receipts tax attempt here in IL), but even as net it could be equal to zero or less than zero.After struggling for five, ten, or even fifteen years in business-- perhaps the first several years losing money, and taking on debt and enormous risks, it's not uncommon for a business owner to eek out a $30K, $40K, or $60K a year living for years before one year magically getting a single contract that propels them into Obama's mystical $250K bracket.The average for a decade or two may still come out to a mere $30K - $40K but all of the sudden after years of sacrifice, delayed gratification, and self-deprivation a person would quite literally be penalized by the Obama class warfare.The reason is simple- Obama hasn't even held a legitimate job, let alone run a business.

I live in Las Vegas and I play " poker" for a living..