In addition, the loan applications contained false information about employment, income, assets, real estate owned, and/or occupancy status.How many people have posted on the forum about lying about the occupancy status?

Its not an issue for me right now, so I've not tried to figure out the details.I have heard one guru claim you could avoid SET and dealer status even if you were doing quick flips if your INTENT was to hold long term.

May also have to pay SET (self employment tax) which is basically both halves of the social security and medicare tax, about 15%.

I do think a formal purchase contract is better, just because 1) its a serious, binding legal agreement, and 2) its what the agents are used to seeing.LOIs have no binding status.

Are there still decent sub2 deals there, or are you finding everything to be upside down in their current status?

The Secretary may take such actions, subject to standards established by the Board under subparagraph (B), as may be necessary and appropriate to facilitate coordination and agreement between the holders of the existing senior mortgage and any existing subordinate mortgages, taking into consideration the subordinate lien status of such subordinate mortgages.

Originally posted by Bill Walston:This means that you would complete Schedule E of Form 1040 for the rental property (assuming the property is held in your name and not by a business entity).Just a side note, but if your rental property(ies) are held in an LLC that hasn't selected an alternate status, then Schedule E will still be used.

Also trying to find a balance between the new job, investing and my social life (the social life has been taking up a lot of time this summer; beach house with some friends)

I put it in inactive status just in case (but went into the big pharma world instead).

We all fight for the attention of potential buyers, cold call and constantly prospect.I have spent months pouring through hundreds of real esate forums, blogs, and social networks.