., Man Arrested In Multi-Million Dollar Real Estate Investment Fraud SchemeShare your thoughts.What should we do to make sure we don't become a victim."

It also says only myself OR a spouse have to live there. so if I "lived" there and just visited my wife a lot is that fraud?

If you don't meet these requirements it is considered mortgage fraud and you get yourself in some hot water.

To stay out of trouble, you need to understand real estate laws and laws in general business, like torts, what fraud is, what bank fraud looks like, agency and principal relationships.

Hi Steve-    At a very high level, you could maintain your existing position today:Rent/month- $1695Taxes/month- $158Insurance/month- $75resulting Cash Flow/month- $1251   Or you could finance a total of 5 theoritically identical properties, each with say 20% down.  

I've made this argument in another thread, but I don't understand how two identical homes if they have the same exact tenant base would incur higher expenses as a dollar value simply because you have a higher rent on one that's a block closer to something positive.I would think in a more expensive rental-designed home, the granite counter tops don't break as often, tile floor doesn't go bad as often as frequently as a cheaper quality laminate wood floor, etc.Another aspect to the 50% rule is that you should perhaps aspire to have your expenses reach 50% if they aren't.You need to expense your phone, your car / drive time, your marketing, etc. as you grow your business.  

In the few short months I've been in real estate, I've sold my friends home for $60k over her neighbor's  homes (they're identical, HOA community,) sold 5+ homes, a retail property in the Pearl, and worked with foreclosures/shortsales, I'd really love to master getting listings here though.

Let me send your way how we had dealt with almost identical situation to yours.We had huge rain Hurricane, in Annapolis a few years ago!

LOL - you should live there unless you're OK with mortgage fraud :)  I know of someone who did that and when I found out, gently reminded him that it's something investigated by the FBI - and is punishable with prison...

The identity of all potential purchasers.?