If you seek immediate success without full consideration of all the possibilities, as Bill stated, you can get hammered.I very much agree with Bill that it is very wise to seek knowledge and experience beyond books and other forms of media.I also agree with Bill that you should be fully prepared before making a commitment.

I offer this modification to what Bill wisely suggested.

Medicare is very well wise to people "giving away" assets to make themselves appear poor.

It is rather broad, my question, but basically I am asking if it would be a wise idea to use my money to acquire a home and live off of my student loan money (which i can accept up to 50-60k if needed.

Next time she has one of these demands, a firm no and an offer to release her from her lease would be a wise course of action.

Bill B. thank you for your wise words.

A word to the wise is sufficient.

Since this is your first time, it may be very wise to seek legal advice from an attorney and even let the attorney handle the entire process.

You're wise to lay aside half of your rents for a rainy day, but others aren't.

When doing lease option assignments or when assigning subject-to contracts, are those situations in which you'd have to worry about the "dealer" classification tax-wise?