Anyway, I received a startup grant to start my business with the caveat that I COULD NOT invest in my own project until the funding lapsed.

@Joe Ort I had a brain lapse.

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The title is only scrubbed clean if it sells at auction and the IRS redemption period lapses.

By doing this, you will be notified if their policy ever lapses.

Other than the time, the COA likely has no motivation to regain the certification, hence the reason they let it lapse, if they even qualify.

Hi Everyone,Great site,been lurking for a while,reading through all the forums and trying to incorporate some of the ideas I've found here.I began in RE in 1985 when I received a California RE license while employed full timein the communications industry.It seemed like everyone had a license back then.I puttogether 2 deals through a broker/friend who had been the one who encouraged me to apply for the license.It quickly became apparent to me that i couldn't do both jobs so I allowed the license to lapse and went with the steady paycheck.Fast forward to 2010 when i began investing in Memphis for cash flow.Cash deals,fannie mae foreclosures.The first 3/2 SFR I bought in Millington went really well.Tenants remain in place since purchase.The second property,a duplex in South Memphis,looked great on paper.It turned into a roller coaster ride with me hanging on while being schooled on the different PM skills required in sketchy areas.I think the wheels just came off on that one,quite the shame really.I had an exit plan that called for a sale after stabilizing and receiving full rents for 5 months.After 5 months of receiving projected 40% gross returns on deployed capital the exit plan got "fuzzy".In the future I think I'll leave those for the locals who can self manage.These first purchases I was flying by the seat of my pants.I think around Nov. of last year I stumbled upon this site and first read of the 2%/50% guidelines.I picked up a triplex in Midtown,38104 which penciled in at about 2.5% monthly.The jury's still out on that one since it was only purchased 4.1.12 and has yet to be fully occupied.Bigger Pockets has been a tremendous resource,allowing me an insight to other LL's who have had to deal with the same issue's and found a best practices formula from A-Z.Keep up the good work,Paul Talley

The paperwork should state that the lien holder (you) is to be notified in the event that insurance lapses or when the taxes aren't paid.You should bring in 3rd party servicing, have the buyer pay for the monthly service fee, and that should take care of the taxes and insurance issue.

Prescription is not the same, however, because titleacquired under it is presumed to have resulted from a lost grant, as opposed to the expiration of the statutory time limit in adverse possession.Real PropertyTitle to land is acquired by adverse possession as a result of the lapse of the Statute of Limitations for Ejectment, which bars the commencement of a lawsuit by the true owner torecover possession of the land.

After we brought the project to him, and he was interested communication lapsed and it went DIW(Dead in water).With my curiosity and property tracking I looked at the property later and found that he had bought it, rezoned, fixed and sold for nearly 1mm more.