220k buying at 212k is slim.220k * .03 (commision) = 6.6k8k-6.6k = 1.4k - cost of marketing and legal/paper work fees.You'd be lucky to break even and thats if you get your ask.I think you need to focus on properties with more of a margin.

I think I have a legal foot to stand on if I claim the 15 day period should start on 10/1.

This protects you legally and financially in most cases.

Legally can I show the property to people interested in moving in, while the non payer is still in the unit?

I would love to hear any other legal advice they can take up as this guy needs to be stopped.It frustrates me personally because there are good people in Detroit and fantastic opportunities here.

I graduated in 2007 from The Wharton School where I concentrated in Real Estate and Legal Studies.

A percentage of your tax liens will have to go to foreclosure and then you get into legal costs (if the state uses judicial foreclosure) and other delinquent taxes.

According to the IRS, the home mortgage interest deduction taken on Schedule A can only be taken by an individual who (1) is legally liable for the loan, and, (2) actually makes the payments.The situation you describe in your example suggests that neither brother is able to take the home mortgage interest deduction.

Nathan, don't confuse anything you see here with legal advice.

I'm a new investor and just want to make sure I handle our partnership legally and protect myself as much as possible if things go south.