With Obama stepping in as President, is this good or bad for the housing market?

Especially, if the taxpayer has elected to treat it as a pass-thru entity.

INSPECTION; BUYER(s)' ELECTION TO TERMINATE:This contract is subject to the right of the BUYER(s) to obtain at the BUYER(s)' sole cost, a home inspection of the premises by consultants(s) of the BUYER(s) own choosing within (10) days after the SELLER(s)' execution of this Contract or no later than _____________.

As far as doing an option on a Foreclosure, I would advise against it… For the simple reason that the sellers will think they have their problems solved, and when you elect no to buy, you are creating a problem for them… Can it be done?

It has one sheet where the members agree to elect a person as manager, and another sheet where all the members are supposed to be listed.

Another RTC is exactly how this should have been handled, sadly I see it going in a completely different direction.We have elected politicians who are determined to not let the markets do what markets must do to remain viable - correct themselves.As such, these left leaning politicians are determined to find ways to keep people who should never have bought a house in those houses.

That sounds pretty high to me to set up some LLCs and sign an S-election.

There is a tax election (IRC 871) to have the income taxed at gradual rates.

I like @Bill F. comments  punctuality is really important in the real estate game.. and great communication skills.no one likes dealing with someone that takes 3 days to get back to them or wont answer their phone and hides behind text messaging.. we are in the communication age ( instant) learn that.One last pearl one of my business partners was quite accomplished ( president of Stauffer foods) president of Beringer wines in Napa.. ( that's were we met member of the same country club.. )But as we did business together over the years..

I wanted to wait 3 more years but after the last election and the epiphany of how much of my rents are going to prop taxes and that I'd be better off taking my nearly 200K career to a 5% income tax state and that I'd still be paying less than half what I'm paying now, I'm ready to go...I made two trips to Vegas already.