But with a 400k government lien on it, it sounds like disposal of the property is going to be complicated.

If so, will you be retrofitting the HVAC to avoid unnecessary loss through the new garage?

Be reasonable and consistent in your policies... unless you really want to create unnecessary paperwork and overhead that will cost you and your company lots of extra accounting overhead costs.

Some investors want to turn that first time home into a Ritz Carlton, that's unnecessary.

Sounds complicated?

Sounds more like he made up a complicated formula to continue receiving grant dollars (so he could keep toking it up in NorCal).

Cos like I said everybody says get an LLC, but then everything gets complicated and expansive, when like you guys say with umbrella policies and common sense one should be protected.

Reed also has a book on real estate taxation issues that would be a useful read.Installment sales are very complicated from a taxation standpoint and investors and the IRS don't see eye to eye on how they should be taxed.

I can tell you that inheritances controlled by this many people could get complicated as reaching concensus on a price and terms will need to be sold to 6 parties and some are likely to have illusions of granduer as to the value.

The more I hear from folks around here the more I realize it's not hard (people want to make it more complicated in their heads) and the biggest thing is to just start doing it.