Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

My jack of all trades gets $25.

Currently their are many SEC and FTC complaints against them and their will soon be a class action lawsuit. 

I never took action and started doing deals.

But day trading is a job at best and a nightmare at worst. 

In Florida where I live that amount is the first $50,000 for a married couple are exempt.So to put all that into action, let's say the previous owner paid $100,000 for the property 20 years ago and lived in the property.  

If youre saying condos are trading at $220 a square foot....Id be planning on a value of $110 per square foot on a co-op.

If you wanted to do a 1031 exchange down the road to use that equity and trade up then that'd be a good idea.The homes I’m looking at buying are in the 330,000-350,000 range.

They don't communicate well, don't take responsibility for their actions, do not clean or maintain homes well, and will shaft you when it's time to leave.Other than that, it's a pretty good system.

We've been helping investors from Bigger Pockets buy in Boise where that rule does not necessarily work - that's because we try to educate them that its more important to take action on an pretty good investment property than waiting around for a "home-run" deal.