Examiners and regulators don't like us giving a loan to a borrower, defaulting the borrower, foreclosing on the borrower, taking the property back from a borrower, and then sell it to another borrower, and do another loan for a new borrower.

Always have your      forms adapted for your own property and examined by a qualified, licensed      attorney to ensure compliance with all laws applicable to your rentals.3) Create or purchase a document titled "Demonstrations of Appliance & Property Use"    On check-in day, demo the use of *everything, and I mean everything (only takes about    20 minutes) in the rental. 

By "go big" I mean a 10-20 unit, maybe bigger, rental property.The logical part of my brain says this is a good idea, but it is definitely a nerve wracking way to start investing given the multitude of ways this could go horribly wrong.What are your thoughts?

Older balloon notes may pop without the ability to refinance, just because a SF note is performing is not all to examine as buying, the question is more to expectations.Mortgage servicers are a good source for notes held where a holder is willing to sell.

How long you hold may be examined from the market demand and the expected final sale, work backwards to your buy date, if the market is hotter, you might buy and hold to avoid market risks.

I guess I struck a nerve @Nathan G.

Should you be classified as a dealer, you are deemed to be in an active trade or business and will be taxed at ordinary income rates plus self-employment tax.When you look at how the IRS examines a "dealer" one of the most important issues appears to be the taxpayer’s volume, frequency and consistency of real estate sales.

I just read through the post where you examine the code of ethics and that is the aspect that I was most worried about.

Just gotta make the jump, its just nerve racking.

I will take my state exam in a couple of weeks and wanted to focus on short sales.Are there any agents here who specialize in REO/short sales that can tell me what my first steps should be besides reading the forums and the books ( i am doing this already).I want to know what you first did when you got your license, did you get any certifications after?