@Kevin Seith Tear downs are more costly as mentioned by @John Moore there are usually additional costs for permits and engineering and you can't forget having to comply with all the current zoning rules like setbacks, off street parking, sprinkler systems, fire separation, density, lot coverage, and impervious surfaces.

The Uniform Commercial Code, SEC, Treasury and financial regulatory functions will be touched on.

But even with that set back, it has been a great deal for me.

also, while I have you here are they're any set backs for a international investor to get a mortage on a investment property here in the states if they have a llc set up in the states?

Hi BP,We have finally been able to set back some money for a small down payment.

Thought you were an examiner and understood what the purpose of bank regulatory policy was all about, but either you're playing dumb or you really don't know.Government is necessary in a capitalistic society, it doesn't function efficiently without government.

Joe- If you show up at the TMHA meeting January 13-14th both I and a Washington DC regulatory attorney will take the time to give you citations from Michigan, Wisconsin, Tennessee, Louisiana, Texas, and California where the judges did exactly that.

This has been the old scam of investors, part of the reason I'm sure new laws have been adopted and such plays on the formation of a new regulatory agency, the CFPB, so far, they don't appear to be very investor friendly,doubt they will be in the future either.As Marc pointed out and as I mentioned, any note buyer will be considering the collateral, the market value.

A friend of mine was building a shed in his backyard, he didn't build it far enough off the setback and failed inspection.

And, have to admit, I read about the issue from regulatory concerns, I didn't dream this up and sorry, can't remember where, but had to do with legal opinions on the applicability of funding appropriate ventures.