I've been at companies early in my career that weren't making any money and some loosing money or facing bankruptcy. 

There is a property in the area that I live that appears to be part of a bankruptcy .

Dave Ramsey isn't wrong, but he is miles from "right" on how to utilize money because he DOSN'T teach or speak of how to utilize, implement, leverage or deploy money as he dosn't know how to himself, hence the trail of bankruptcies. 

We just got out of a Chapter 13 bankruptcy in December. 

We may declare this new house as our primary and begin renting the side we are currently living in.

If you have any business entity that declares any purpose of its formation is to lend or purchase mortgages or deal in mortgages, that is a business purpose, that means a license.

That's $20,293 per year in "income" I will have to declare. - Depending on appreciation, I will be underwater for at least a decade in this "deal".

Hi, Applicant has good income and job, but ha filed a Bankruptcy in 2015.

They declared a value add expense with the state of I believe it was $750K (something close to that) so they did a lot more than the ADU addition. 

We invest in notes but prefer first over seconds because seconds typically carry much higher risk - for example a jr lien could be 100% wiped out in a bankruptcy whereas not happening with a firstPros and cons to all - if you at buying at auction with liens still attached most lenders will want the full payoff or foreclose