Hi Greg, well you can't practice until you hang it and I think its important to visit with at least a few options while you are taking your license and passing the test. 

Or do I have to wait until the year has passed for them to file a case before I can take ownership and resale, rent or move myself into the property?

I don't want to buy a bad deal, but I also don't want to pass up decent deals waiting forever for the "perfect" one to come along.  

I do screen heavily, but fear that with less expensive properties it will be difficult to find "quality" applicants that can pass screening unless I greatly lower standards.  

Husband worked at Blizzard Entertainment for 15 years and I used his bonuses to build our investments.

Hi All,I have a section 8 property where the tenant recently passed away.

It has a full basement that can be used for entertaining and additional space for storage.

You have to decide on a sales price, when ownership changes hands, who pays what taxes, what if they run the business into the ground, what is the place burns down, what if someone gets injured and their is a lawsuit, what if the owners pass away or decide it's too big of a project for them.

If they submit to screening and pass, I add them to the lease and let it go.NOTE: I charge a fee for adding or removing tenants because my time isn't free. 

A good thing about this is you will also get 20% pass-through deduction on the rental activity if grouped correctly with the S-corp. 5) You can also net the rental loss with the Busines income to decrease your net income.