I get a very strong feeling that this is a learning experience for Houston, that it's going to help in the long run,'' said Charles Garza, president of T.P.

@Charles Smith Thanks, Charles!

Charles,You, Ann, and Richard Weese all express the idea that falling in love with a place is a bad idea.

I don't but do, and just like Charles I put a pencil to it for a final decission.As a lender looking at an application for a NOO, I'd initially look at it with 50%, but then I had to use some other quick judgments as well.The age, the location (being very familiar with the city helps), type of construction (masonry, wood, siding and amenities involved).

Charles Perkins hit the nail on the head.

@Charles DykstraThe type of financing available for land depends on the infrastructure present.

@Kurt Charles Thank you my good man.

@Kurt Charles - This is insane.

So you take some element of risk relying upon it unless you go to the time effort and expense of requesting a ruling in your own capacity.One final caveat, it sounds as if this property would only be partially eligible for home exclusion treatment (since apparently only part of it was your princ res) which may create a number of other potentially unfavorable tax issues not to mention the usual issues of having a corporation (even an S Corporation) owning the property.

@Charles MaxwellI'm a fix&flip investor from Spain and the main motivation is to understand UK market (maybe to expand my fix&flip operations too) and to have some rentals there.I'm searching for distressed properties with a good yield after the rehab.