The idea of Rent Control and the fact that if a smart tenant files bankruptcy they can stall evictions for 9-12 months just turns me off.

We are negotiating on our second property and the owner tells that they have filed Chapter 13 Bankruptcy 3.5 years ago.The property is in Maryland and we wanted to do a Land Contract on the property paying her monthly rent to cover the mortgage.Is this possible ?

While I didn't need to spend the time and money to get the determination letter, I sleep better at night knowing that I don't have to worry about the IRS coming after me at some point in the future because my plan administrator might have screwed up (accidentally or purposefully).Here is the current recap from the IRS on ROBS transactions:http://www.irs.gov/Retirement-Plans/Employee-Plans...Here are a couple noteworthy (in my opinion) parts:Regarding the use of ROBS by business owners:  "Overall, the research we conducted and the responses we received to the compliance checks indicated that while some of the ROBS were successful, many of the companies in the sample had gone out of business within the first 3 years of operation, experiencing significant monetary loss, bankruptcy, personal and business liens, or had their corporate status dissolved by the Secretary of State (voluntarily or involuntarily).

that will wipe some of it out with bankruptcy if it goes through...http://www.citytowninfo.com/career-and-education-news/articles/new-legislation-would-discharge-private-student-loan-debt-in-bankruptcy-12050201Fundamentally, housing is housing.

I told him I would offer $110K, and that he should consider filing bankruptcy to let the courts sell.

Insurance will cover liability, bankruptcy is unlikely to force sale on a half interest, besides the homestead exemptions for a primary residence.

The exception is if the house is sold at a foreclosure sale, or if the owner files a bankruptcy.

There Are Many Benefits Like The Ability To Obtain Credit In The Future As Well As the Ability To Take Advantage Of Bankruptcy Protection In The Future In Case You Make Some Bad Decisions.

The consideration then is the incremental cost of adding to that mailing.With regard to mailing to distressed situations only, I find that the obvious candidates, pending foreclosures and bankruptcy etc. leave out a large segment of the distressed homeowners who don't even consider that they have options in this market.

Bankruptcy may be his option.