So that's probably going to cost around $220 a month.Investment Payment $760Investment Homeowners Insurance $100Investment Taxes $100 (you will probably not get assessed your first year and just pay on the lot)Primary Residence Increase $220Total Cost would be around $1,180 and you would have to pay a property manager around $100 a month.Looks like you could almost break even on it with the right mortgage and taking the cash out of your primary residence.Things will rebound eventually, so if you can slow the bleeding down to a few hundred a month you can hopefully stick it out.If you have been doing pre-construction since 2005 I am hoping you made some money somewhere to ease the pain.I did this on a few properties in Lakeland, Florida.

Ease of use is critical.

And in all instances, there was tax paperwork (Form 2119) to fill out to show that you followed the rules.But when the Taxpayer Relief Act of 1997 became law, the home-sale tax burden eased for millions of residential taxpayers.

You guys have provided so much information and helped put my mind at ease on some issues!

Lots of tension, distress, etc.

A little trick to ease the removal of wallpaper is to use a warm water mixed with fabric softer, sponge the wallpaper (saturate) and it should help release the paper.

It may be 6 months before a borrower may face foreclosure with the notices and delays now afforded, forget the ease of foreclosure in non-judicial states for now.The debt to income ratio of 43% does not apply in certain mortgages and your attorney had better be an ex-regulator or underwriter to understand the scope of prudent lending as it is not spelled out in statutes, certainly not taught in law school.

No splits, profit shares, etc.It keeps it clean and simple and keeps you in full control of the investment.I think payments being paid on performance / profit splits can lead to tension in the family and limit your control in a deal.For instance, if you were going to sell for a loss, and your parents disagreed, or vice versa.

Let's just assume for ease of math the loan is interest only.

Remind him that the other two will not be denied based on income or credit history but only on criminal history and rental history, as it relates to destruction of property, etc.This should put him/them at ease and at the same time get you what you need.