Real Estate Rewind Starting overhttp://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-bookGood Luck Paul 

I do not see the bank loaning you the money without a security interest being filed on the property (mortgage). 

I wouldn't even bother asking you for paystubs, because we aren't going to consider what you claim you make ($1.2/month), nor are we going to consider your stated YTD earnings (unless it indicates declining income).Ballpark, so as not to bore you with too much minutiae: We're going to look at what you told the IRS you made when you filed your taxes, and do a 2 year average (1 yr if most recent year shows declining income).

Having your license can actually be a hinderance to getting a great deal on a property, because if you get too good of a deal, down the road at some point the person who sold the property to you can file a complaint with the real estate commission and claim they were taken advantage of.

She filed a complaint against us to the department of human rights saying we discriminated against her and believe the section 8 program is a scheme.

As far as property taxes you definitely earn a partial exemption BUT the deadline to file for this year is March 1 so don't mess around.

What's best is that if they mess-up (let's be realistic, it does happen), they fix it immediately, and you can usually have them credit you a month worth of fees.They do a fantastic job with quarterly reports and end of year tax filing as well. 

QUESTION 3: How will we benefit while filing tax returns?

I filed a Right-To-Know Request with the Township and that's when they told me that they have no documentation on the dump/sinkhole issue, nor the demolition of the house.

Real Estate Rewind Starting overhttp://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-bookGood Luck Paul