@Kris Russell we just acquired a property and opened the application pool to section 8 voucher holders.

Hi Julia and everybody from the Wheeling area                Im originally from Argentina and right now I am located in California but recently acquired a 2 story Victorian home in Wheeling, WV.

When / If there are secondary lenders for LLC / commercial loans (that do not hit my credit) there will be I'm assuming another 2k after the "seasoning" period.So now I'm $5500 in closing cost alone....My thoughts are if my lenders will close fast enough for my sellers I can rid myself of the cash closing unless it's just a crazy good deal, but I would love any feed back on ways to move into a 30 year when I'm pulling my cash back out.Also should I use the portfolio portion of the loan to acquire and slowly move them into 30 years?

I have been researching corporate structures and am getting some conflicting information.A tax adviser is suggesting that I setup an LLC in Wyoming, with a trust as the owner, and with me as the sole beneficiary of the trust.I read several articles that say I may have to register the LLC as a foreign entity in my state, New Jersey, because I would still be "transacting" in in my home state.I read some exemptions on what constitutes doing business though:(7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property;(8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts and holding, protecting, or maintaining property so acquired;I'm trying to figure out what the bolded section means as far as owning income producing real estate, it looks like it may be exempt?

Hi Everyone, I'm a real estate agent in Southern Utah trying to grasp this great opportunity of the current market conditions. The only problem is the lack of capitol I have. I am in tuned with the market and know of ...

Trace the debt proceeds and deduct on property acquired.

I do understand there are many reasons why they go to the extreme (both self serving and otherwise), but does anyone have good experience in finding a lawyer who is on your side and tries to acquire the property, instead of getting it redeemed?

Originally, I Was going to form a Single member with just me as the owner, but I am bringing my brother in because I want the LLC to fill a tax return so that few years from now it can help if i want to sale the properties or buy more properties as i will be acquiring more.

Let's say you'd like to acquire 12 units in the next 5 years.

The other is an additional basis acquired in the exchange - IF you did acquire additional basis.Parts of the new basis might be eligible for bonus depreciation, but it's a big "depends."