If I was a tenant and I saw such a warning I would not be holding my breath while you held my money.To even screen tenants for a unit that you do not have could be an issue if you do not have multiple units that they could be offered and which they want.

i did mediocre on purchase price, was about dead on, on rehab cost (took too long, though), and then held the property for so long that i ate 100% of my profit on mortgage and utilities.

I would also warn against a 1031 exchange and was wondering, why not live in one unit while you rent out the other units after conversion, then once 2 years is up, sell the unit you have been living in tax free up to 250k if you're single and then either move to the other units or even if you sell them at least you can tax advantage of capital gains since you've held them for more than 1 year.

My theory is that the towns did not have much growth and so the downtown areas held up better.

*Even for simple things like evictions, if the property is held in an LLC here you have to have an attorney.

I've done a few and I don't think you'll qualify.Also, on a 1031 the ACQUIRED property must be TITLED/HELD in the SAME NAME as the RELINQUISHED property.

We had a home inspection and they are both in great condition.As stated above, we are doing an 80% first mortgage and a seller held second mortgage for 20% at a rate of 7.5% amortized over 30 years and to balloon in 10.

The current debt outstanding on the house is 365K and is held by two different banks.

This certainly appears to be an extensive site, with great information.Having held a real estate license and actually worked with a real estate firm some years ago, I do have some knowledge about investing in real estate, but it’s been many years since I’ve actually participated in that field.Let me try to be as brief as possible.

Now the majority of the time these houses are not redeemed, so you end up with a house for the taxes owed or whatever you bought it for.Keep in mind that you will not be able to get title insurance until the redemption period is up.The actual auction is held at the county courthouse and normally by the sheriff, but the tax appraisal office or the tax assessor's office will have the information about it.