I recentlly did a model on a condo project in Tampa. 40 percent of the adjusted basis was the amount to bring the HOA above water with reserves and such.If the association is toast, walk awayMost countys will not let you uncondo the properties back into apartment buildings.

I realize its essentially a lifetime commitment, since there's no real resale market for these.

Even without any real estate agents, you'll still have a few percent in costs you'll have to pay.

They are all rented out for 2 percent of the total cost including all fix up.

I take that back - I did hear about this today - the gist of it is"Expand the current First-Time Homebuyer Tax Credit incentive from the lesser of 10 percent of the purchase price of the home or $8,000 to a higher limit of either 10 percent or $15,000 for all homebuyers, remove the income restrictions and include all primary residence purchases for one full year"More info can be found here...http://online.wsj.com/article/SB124460195604101021.htmlI heard in addition to the group pushing this that a member of congress has been found to sponsor a bill.

I did remember something though when I got my Indiana license to carry (I got a lifetime license - good for life).

Private investors for hard money loans like to lend a percent of the LVR but I dont know how to figure that out.

I've come to the perspective that bubbles and bursts amongst numerous sectors are just going to be a regular part of our economy, at least for our lifetime.

The window of opportunity for buying looks to remain open for some time...Mortgage delinquencies hit record high in Q2Delinquencies and foreclosures set record in 2nd quarter, as more homeowners lose their jobs By Alan Zibel, AP Real Estate Writer On Thursday August 20, 2009, 10:12 am EDT WASHINGTON (AP) -- More than 13 percent of American homeowners with a mortgage are either behind on their payments or in foreclosure as the recession throws more people out of work, the Mortgage Bankers Association said Thursday.The record-high numbers in the report are being driven by borrowers with traditional fixed-rate mortgages, rather than the shady subprime loans with adjustable rates that kicked off the mortgage crisis.

For a small investment of only $4500 you will be a lifetime partner and collect checks that average around $800 a day for the rest of your life.