One other point...On our long term rentals (over 30 days), there is a General Excise Tax of 4.71%.

I am not saying with a lot of “bling” but you should look the part.I have to say, I have purchased houses wearing a $1000 suit, polo shirts and Levis, and polo shirts and shorts.

If it did, the old owner could have all the normal collection activities take place… Garnish wages and levy bank accounts and other assets, and further destroy their credit etc.

If your property is part of an association tenant can create havocs with the association and you will be bearing all the fines levied by the association.

An attorney can “levy” assets to collect on the debt.

The laws in the State it is in and what the deficiencies laws are, was the heloc taken out on the purchase or as truly as cash out loan after the purchase…These are hard questions to answer… But the easy (but not complete) answers are… Maybe they can put liens on your assets… but actually it is called a levy where they can seize the asset… but again there are a lot of variables.

What you wear is not nearly as important as what you know...I actually listened to a speaker who said he dressed like a 'Hill Billy" because he didn’t want the seller to know he was successful...Personally I believe that if you have great systems in place it doesn’t matter what you wear or what you drive up in for that manner..I wear a suit, sometimes levis and a polo shirt and occasionally shorts and a polo shirt..If I am not in my suit I am always in a shirt that tells the world what I do..

If you file to evict and then tenant does not answer to the court you can get the writ to evict but not a judgement.In that case you have to take them to small claims court and win to get a judgement.Now if you already have the judgement against them you have a few options.You can file the paperwork yourself for bank levy or wage garnishment.Or You can use an attorney that charges hundreds per hour.

As a result of the protection afforded by the corporate structure, the individuals who are truly negligent would often be left off the hook and the liability for the wrongdoing would rest solely with the corporation itself.Due to the hard work and diligence of the lead poisoning lawyers at Levy Phillips and Konigsberg, LLP, case law precedent has now been established in New York State to hold not only the corporation, but the people who run and are acting on behalf of the corporation responsible for their individual negligence.http://www.lpklaw.com/new-york-lead-poisoning-lawyers.phpDoes that help?

It's taken about a year, but I just got word that I should receive a final determination in a couple weeks, and it should be favorable (fingers crossed), meaning any future ruling the IRS or DOL makes on these types of retirement products in the future can't come back to hurt me.Fun fact: If you flagrantly violate ERISA laws with how you use your retirement funds, the penalty from the IRS/DOL can be loss of your entire retirement portfolio PLUS 10% or more excise penalty that you'd have to pay out of pocket.