The second doesn't go away they just sell to asset collection company for so many cents on the dollar and write off the rest with taxes.So the reason what they will do varies so much is some states have very long redemption periods and very long judicial foreclosure processes.Here in Georgia investors love our state.We have a power of sale clause in almost all the deeds where you give a 4 week legal notice in the local paper and then foreclose at the courthouse steps the first Tuesday of every month.After the sale at the courthouse steps there is no redemption in my state.All you have to do at that point is evict the holdover tenants.Many sellers incorrectly believe the loan balances go away once foreclosed on or sold as a short sale.This is not true and everything must be negotiated in writing so that later the sellers cannot be pursued for a deficiency and then wage garnishment or a bank levy.

So the IRS levied the entity for the penalties and fees(89bucks per partner every month for 6 months).

So far, we have defeated a local tax levy; humiliated the mayor and assistant law director in local elections; caused 3 council members to choose not to run for re-election; and will unseat many others in November.

Beware of "reality" advice that you read in forums, especially if that advice runs counter to local laws.In some areas, once you have a judgment, you can levy the personal property to collect on the judgment via sheriff sale of the personal property.In the end, you just might get to keep the stuff, just follow the law so that you aren't setting yourself up for trouble.

Since you are new to all of this you may want to google to see if there is a local real estate investors association in your area to see if someone can answer your questions regarding eviction process.Of course... you could just tell the tenants that if they don't pay, you will use the security deposit for the unpaid rent, and then levy on them any sums due for damage to the property which would have been taken care of by the security deposit... and that you will file in small claims court to reclaim your expenses.What ever you do... be professional... keep written and follow through with everything you say you are going to.Best of luck.

If you do a simultaneous closing in Washington, you will pay the excise tax 2 times.

I think it's about $70/year.San Diego County levies a Rental Unit Business Tax on investment properties, unless you can prove it's owner-occupied.

I agree with your the rich cannot continue to be taxed excessively but in many cases the rich often have the resources to legally avoid paying many of the taxes that they have levied against them.

That version of the bill specifically prohibited imprisoning people for refusing to pay the tax penalty levied on those without insurance.

Originally posted by Levi Lewis:What I really want to know is how to calculate the max purchase price and how the associated costs are deducted.