it matters what type of business in you're in, what business entity will be most effective for you (taxes) and which will provide you with the greatest protections (assets).having said that - don't get caught up in all the craziness of the ultimate buzz word in rei - "asset protection".a business has to have a plan.

Usury is actually factored on the effective interest rate, otherwise known as the annual percentage rate or APR.

Leases run with the property, so IF they had a one year lease in effect now, they could stay until the end of it.

It was something to the effect that I could refinance them at about a 7% rate on a 20 year note, pull out out about $125K in equity, and my payment would still be the same.

This is a tool that has taken ten years or more for other cities to put into effect, and it has never failed in creating revitalization.

The house was off the market for 2 months because of this, and I'd like to get that check, but not if I'll have to pay a lawyer $5k to get it back.

Again just my opinion I am not a lawyer.

Very likely I or a good lawyer can find more than one downside.

I normally write their answers on the back of the business card that they usually just gave me.I usually finish it up with something to the effect of "I run across a lot of property, if I find something that you might be intereseted in I'll give you a call."

And all that call the lawyer and stop the closing when I am not even getting that loan to purchase the house.