You are looking for LEGAL ADVICE.

And with your comment about after closing that certainly raises a red flag for me.Everything is disclosed and legal.

I would take care of all the rentals and bills ect....I wanted to know the legality, the plus side and downside, and how anyone would go about this.

I am not versed in legal affairs or NY laws so do not know how to interpret this; should I go to the courthouse and pull the records to read?

Legal Fees on their end vs. opportunity cost lost on yours. ;)

There are several ways you can add flexibility to the trust, yet you need to consult legal counsel that has a working knowledge of Land Trusts.

It is a legal program offered by more then 1 lender.

Even if you flip houses its important to be able to write off business expenses, all though you can do it on your own, a corporation has more legal rights to write a lot of other things that individuals can't, its that plain and simple.While a corporation has over 600 plus tax write off as of the summer of 2002, the individual person has maybe at best 6 tax deductions.

Upstairs apt section 8. perfect tenant but I cant raise the rent, sec8 only pays so much. legal bsmt apt, nice lady but mostly unenployed.

I would like to know what steps I should take to find out if this is a good deal and how do I protect myself from any legal, environmental or structural issues. eg. - what type of inspection would disclose any underground problematic conditions.?