(Modern Real Estate Practice)So an IRS lien will not always win over others, but I believe Wayne is right in this case  - the buyer's IRS lien will be superior to the mortgage lien - not because it's the IRS per se, but because the filing date of the IRS action preceded the creation of the mortgage lien.

PROS: - The note is an 80% loan-to-value - there is a 10% interest rate on the note - I have excellent credit - a sum of cash would be offered to the new owner of the note as an incentive - an early payoff penalty would be in place on the note CONS: - there is no payment history since the note creation and trade will take place almost simultaneously - there was no down payment paid to the seller of the house Are there any firms that would accept a note like this?

With market uncertainty and no psychic powers to know where our taxes are going, I would say WL is a good product to have as back up.

I just wish the BMV would provide a link to the applicable statute.One idea I had in mind to help out others in this situation would be the creation of a state list of regulations pertaining to this issue. 

If you are unable to experience appreciation you might miss out on best part of REI, passive wealth creation. 

This is a very common way of owning investment property because of the fairly low creation cost and because it usually offers less formalities and maintenance than an S Corporation or a C Corporation. 

But would that lead to long term wealth creation?

I'd like to get a lawyer on my team to help out with contracts, titles, LLC creation, asset protection, and, eventually, small to mid-sized multifamily deals. 

I am in the process of creating a Self Directed IRA using one of the existing and more prolific Custodians out there. In the same process, I am creating the LLC that will be owned by the IRA.

The one piece that noo...

My attorney argued back that Defendant should have had reasonable knowledge since I recorded both J’s myself, and Defendant waited 5 years to contest the J’s, but surfaces within 30 days of the creation of the estate.