Those rules are primarily implemented to determine the value that will make an investment property have positive cash flow.Some areas, like NYC, the 1% rule is almost impossible to obtain.

If you pick up just one side you could file for a partition lawsuit to split your portion from the whole or try to hunt down the other party to make a deal or get them to agree to partition the whole.   

And when your net sale is complete your accountant will take your net sale and net it against your adjusted cost basis to determine the profit and depreciation recapture portions of your gain. 

Francescon now lives in Illinois.Early in the crisis, cash-rich investors rushed in, snapping up troubled homes on the cheap.Big, Wall Street-backed firms and small players picked up homes by the thousands at bank foreclosures for well under $100,000.

They can leave you at any time and you have to pick up the pieces.

Motivation, networking, self education and also Constant drive .you can succeed at any sales job with the above skills and determination.. selling cars  ,, I love the use car business make way more money than trying to get in the middle of real estate deals. 

I’ve never done a LOC before and I’m having an issue determining if this is a good deal or not.  

One question I did have that I find very relevant and a big determinant in choosing what property to purchase and that would be what to charge for rent and how to determine whether or not a particular property is worth purchasing based on its income. 

Couldn't pick 2 hotter areas than that. 

If you find yourself in court you will be held to a higher standard and could lose if determined that you used your superior knowledge to take advantage of a non-licensed person.