And you are a cousin to a motel owner without the benefit of being in the area.

The real benefit of the tax treatment of rental income is that you avoid some of the tax on the rental income.

You lose:- benefits (such as medical) which are costly to get on your own- a source of recurring funds- some ability to get lines of credit of loans- ability to qualify for various loans at banks- a lot of your ability to get back in the job market several years later, if you change your mindIf you do, make sure you have a large cash cushion in the bank.

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.

Any benefit from sending an email copy so they get it faster ?

You might find out what it’s worth on the open market and pay him just slightly more, so you reap the benefit, not someone else.The greatest tax issue will be for the seller, who will now have to pay tax on the entire sale, instead of on your installment payments over the course of the loan.Jeff

The benefits do not outweigh the risks to me.If they sue you and go to court the money you gained will be wiped out in court costs and then some along with a bunch of time wasted.Also you will have a hard time proving the items belong to the tenant.They could have a loan on them,be borrowed from a friend,or other people staying there not on the lease could say it belongs to them.This happens in judgements too.You get a judgement and before garnishment you have the defendant fill out an interogattory questionaire from the court.Do you think people are going to list a 2,000 tv when they know you are after it??

I have a question on MHP's maybe you can answer.Aren't you giving up a huge benefit of real estate by going with MHP's?

I think it could definitely benefit both of you!

With unions pushing for higher wages and more benefits, most businesses will be closing down and moving overseas where they have a cheap labor source.Also many of the industries we have are outdated and will be closing down.