Hello Paul,As the legal owner and borrower on the loan, you may be eligible to deduct mortgage interest and property taxes on your tax return.

I’ve worked in the legal business for the Navy and it’s not a problem to get police reports and get an RFI from the tenant.

First, allow me to define small value-add Multi-family, I speak with a broad brush.. anything legally zoned duplex up to 50 units (I'm excluding Class A-B big MF) To set some context, most of the investors that reach out to me are not from Charlotte, or are not intimately familiar with the market here.

I was doing a lot of legwork and still paying RE agent for the transactions up until got my own license.pros: no commissions in your transactionseasier qualification as real estate professional to offset high W2 of spousecan get access to any house/ easy logisticsmore control in the transactionMLS access with all the information on tip of your fingers, you can move fast with the deallicense knowledge helps to make better decisions and gives broader understanding of the industrycan legally do property management for others, wholesale (many states now making outlaw to do it without license)cons:need to take an exam (it needs preparation and to be good not just barely pass you need to study)fees you pay along the way (MLS, brokerage(I signed with investor-focused on and have a monthly fee and a transaction rate))self-management including taxes and feesneed to relicense + paid education Don't forget the biggest con.

Companies or legal entities cannot be company applicants.There are two categories of company applicants – the “direct filer” and the individual who“directs or controls the filing action.”• The first category (direct filer) must be identified by all reporting companies that have acompany applicant reporting requirement.• The second category (directs or controls the filing action) may not be applicable toall reporting companies that have a company applicant reporting requirement.

If there is a legal dispute over when a business started, they will examine when the actual business activities commenced and not what your lawyer wrote as an intention.4.

The “process” is the same as opposed to how the marketing is different in each state depending on whether it is a judicial process (court filings with a judge) or non judicial ( Lender simply posting in a legal newspaper)Yes,a short sale can be done by a homeowner without a foreclosure date if they are being relocated by their Company more than 50 miles but in this group we are real estate investors and it is hard to target a “list” of those home owners who may have received a job promotion AND think their home is worth less than the total debt.

For example, the laws in Texas allow me to include specific provisions in my leases that might not be legal in states like New York.One such provision I enforce is that once a tenant gives notice of non-renewal, I can immediately begin showing the property to prospective renters.Because its so state-specific I would reach out to a NY landlord, agent or property manger for more geographically specific advice. 

They aren't a legal department. 

.- Regulatory Compliance: Ensuring all legal and regulatory requirements are met for private lending.Questions for the Community:1.