https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

Once you understand LLC and irrecoverable trust would give you more harder time getting financing, then you start having second opinion, this is also true for what people hearing about this and that tax advantage in real estate and stuffs.

What about taxes and insurance, how much are those?

You can also take them to small claims court but you cannot get water from a stone.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

No down payment means you invest for nothing, take advantage of principal paydown and tax advantages and maximize your BAH to do so.

He already has his mortgage - so, a blemish on his credit really won't negatively impact him.All you could go after is his bank account and state tax refund:(

It's a cheat code.I recommend consulting an REI-savvy tax pro for these types of questions.

(this will help with mindset around investing)Tax-Free Wealth by Tom Wheelwright, CPA.

The contract I could find says the following:```...together with the right of ingress and egress at all times for the purpose of mining, drilling and exploring said land for oil, gas and other minerals, and removing the same therefrom.And said above described land being now under an oil and gas lease originally executed in favor of [Oil Company], Chicago and now held by [Oil Company] it is understood and agreed that this sale is made subject to said lease, but covers and includes of all the oil royalty and gas rental or royalty due and to be paid under the terms of said lease.It is agreed and understood that of the money rentals which may be paid to extend the term within which a well may be begun under the term of said lease is to be paid to the said [purchaser], and in the event that the said above described lease for any reason becomes cancelled or forfeited, then and in that event, the lease interest and all future rental on said land, for oil, gas and mineral privileges shall be owned jointly by [owner] and wife and [purchaser] each owning & interest in all oil, gas and other mineral in and upon said land, together with interest in all future rente.This sale is made for and in consideration of the sum of Ten Dollars, cash in hand paid, the receipt of which is hereby acknowledged.To have and to hold the above described property, together with all and singular the rights and appurtenances thereto in anywise belonging unto the said [owner] heirs and assigns forever, and we do hereby bind ourselves, heirs, executors and administrator to warrant and forever defend all and singular the said property unto the said [purchaser] heir and assignee against every person whomsoever lawfully claiming or to claim the same or any part thereof