Housing characterized by 1-3 story buildings, but at a higher building coverage than R3 zones.

Originally posted by @Gino Cook:yes that is how it would be my buddy would give me the proceeds check after the deal ..ok so your saying nothing shady with that and that's what I wanted to hear thanks Gino,Since someone threw doubt back into the equation for you let me make a couple points on mortgage fraud so you and others understand it better.Mortgage Fraud as defined by the FBI is: "a crime characterized by some type of material misstatement, misrepresentation, or omission in relation to a mortgage loan which is then relied upon by a lender.

I wish I could say thriving, but I am afraid this likely isn’t an appropriate characterization for a majority of these brave firms.

@Dan Heuschele@Mary MitchellNot singling out both of you, but I just thought I would include you both here.There are a LOT of unscrupulous Investors in Real Estate and how they operate is incredibly illegal and makes it very bad for Investors like me who follow the law.An example would be the case of an Investor that buys a "rent controlled building," for DIRT cheap, harrasses the tenants, including not making required repairs, to get them to move out and then in turn, forcing appreciation illegally while benefiting from the benefits (such as lower property tax) that the tax payers have given that investor to be entrusted and a good steward of the renters in a rent controlled building.There are even cases where the Landlord burnt down his rent controlled building to vacate it, reaping huge rewards years later.What this does to legit Investors like me who DO NOT BUY rent controlled buildings because of all of the requirements by law, is put us at a deep disadvantage of making money the sure and slower way because we pay close to market Price for our market rate buildings, which is EXTREMELY expensive compared to the rent controlled building.It is ENTIRELY unfair to both the tenants of those buildings AND legit Investors like me who refuse to break the law, harass tenants, etc. in order to break the limited revenue that the rent controlled buildings are under which is WHY they were cheap in the first place.In fact, what some of these landlords were doing was filing cases that just did not exist, knowing that a percentage of the tenants could not show up either because of medical, work or other reasons and would win a default judgement.It was so bad because the amount of cases that were presented in court backlogged NYC Housing Courts that it would have affected my own legit cases should I have one by causing these cases to be seen much later than would be normal.I don't agree with the characterization that ALL landlords are bad.... but it would equally be a mis-characterization to say that ALL landlords are good.The problem here is that the bad landlords affect people's lives.

Those that speak the loudest through social media are correct regardless of facts and figures.The millennial generation should be spelled MEllennial generation because it is characterized as the ME generation.

We are using a property manager and I would characterize them as 'ok'. 

If the tenant is deemed to have built or to be building equity however, the IRS can and will most likely re-characterize the option as a sale. 

You could characterize the initial capital as a loan and take it back when you need it. 

I wonder how the seller would characterize it, and if they would trust the OP again.

But that source is an ex-spouse who has already been characterized as the financially irresponsible one - so you can't make any assumptions about that amount becoming guaranteed income.