The bank that wrote those loans was taken over by the FDIC just days before my closing, and even spending five minutes researching a $200k loss is evidently too much effort for the government, because no one has been charged.

i don't want to get too political, but unfortunately, business is politics...my biggest complaint owning apartments was how the government would support tenants til death and shun the landlords...have had several code violations properties, where i fix everything, but tenants do the damage again, and we go back to environmental court with the code inspector..even when i have pics and proof, it's still an expensive pain lawyering up when the government provides free attorneys to tenants..i guess i don't have it as bad as others...in some states it takes months to evict, and in others if the tenants don't pay the city water bill, the government can lien your property...all this does is put more pressure on landlords and take responsibilty off of tenants..to me, that is a huge pain!

Condemnation is the process by which a government takes private property for public use with or without the owner’s consent.

As soon as the government no longer artificially holds the rates down, and they increase even minimally, the values will drop.Rob K – nice post, but you left out the biggest problem which is the entitlement funds that will drive us over the cliff.I always remember that some of the best deals I ever did was when I DIDN'T buy......Rich

Why can't the 47% of this country accept personal responsibility for themeselves and stop mooching off the government, electing to be carried by the rest of us, not working and wanting handouts!

Yes I have seen section 8 be in a constant flux of change.If the tenants income increases then section 8 adjusts the voucher amount.Also here you can list in the lease that the tenant pays a certain amount of utilities and that is fine.Some section 8 areas they will pay 800 for a 2 bed but then all of a sudden readjust to start only paying 700 which is not market value.These section 8 tenants never make up the difference from what I have seen.So you accept the lower rent or evict them and get a regular tenant for 1,200 more a year in cash flow.I don't know with the election and many government programs in flux how stable section 8 is currently.Might be a bad decision to base many of your renters off of that income stream.

Remember that what the government gives - it can also take away.

First, let me say that I'd never even heard of the Uniform Partnership Act (UPA) until this post, so everything I know about it is based on Internet research over the past 10 minutes...so take this for what it's worth...It sounds like the UPA is a governing act that recommends rules for partnerships that each state must adopt independently (and it sounds like all but one state has adopted the rules).

However, a licencee is governed by the State Real Estate Commission and must use some standardized fill in the blanks type of forms.

Use of funds and investment alternatives, bond portfolio, municipal and government lending, capital requirements, reserves for losses and bad loans.....but let's stop here.Point is, did you pay attention to the time frame of progressing through the lending activities?