When the fifth rolls around I get a few more rent deposits, but around 5:00 PM there are still two or three outstanding rents.

I work in 4 counties that are within 1 hr of charlotte and the deals have been outstanding.

c) Exceptions The term ''personal holding company'' as defined in subsection (a) does not include - (1) a corporation exempt from tax under subchapter F (sec. 501 and following); (2) a bank as defined in section 581, or a domestic building and loan association within the meaning of section 7701(a)(19); (3) a life insurance company; (4) a surety company; (5) a foreign corporation, (6) a lending or finance company if - (A) 60 percent or more of its ordinary gross income (as defined in section 543(b)(1)) is derived directly from the active and regular conduct of a lending or finance business; (B) the personal holding company income for the taxable year (computed without regard to income described in subsection (d)(3) and income derived directly from the active and regular conduct of a lending or finance business, and computed by including as personal holding company income the entire amount of the gross income from rents, royalties, produced film rents, and compensation for use of corporate property by shareholders) is not more than 20 percent of the ordinary gross income; (C) the sum of the deductions which are directly allocable to the active and regular conduct of its lending or finance business equals or exceeds the sum of - (i) 15 percent of so much of the ordinary gross income derived therefrom as does not exceed $500,000, plus (ii) 5 percent of so much of the ordinary gross income derived therefrom as exceeds $500,000; and (D) the loans to a person who is a shareholder in such company during the taxable year by or for whom 10 percent or more in value of its outstanding stock is owned directly or indirectly (including, in the case of an individual, stock owned by members of his family as defined in section 544(a)(2)), outstanding at any time during such year do not exceed $5,000 in principal amount;"End quoteMy first followup question:It's my understanding that I need not be concerned about the impact of the Safe Act and licensing requirements if I'm using just my money to loan to others, and that I have a broker creating the loan documents.

The house, in it's current condition, isn't worth nearly as much as the outstanding loans and liens, so she's under water.I'm looking at options I can present to her in order to help her that will also be profitable for me.

How much is the property worth and what is the outstanding loan?

I agree, its highway robbery.

Some of the other good buildings in the area: The Emerald (on 14th Street & Brickell Bay Drive), and all the old short condos along Bay Road facing the water, The Palace (Brickell & 15th) and all the older condo buildings on Brickell past the highway overpass.

In that case we don't have the same issues as we do in funding a cash loan taking collateral.From a risk standpoint that a lender will assess, a seller has been the owner of the property, they are aware of ownership issues, they may receive the property and there is no obligation, unless unique by state law, to resell the collateral and pay the debt outstanding as there is with a cash loan by a lender.

Hi David, I can't say there are any outstanding south side management companies.  

Is it located next to any eye sores (major highways, power plants, etc)?