Quite a few properties down there for sale. some pretty good deals.

I'm going to check out the attorney Page Allen since my property is in Virginia.Does anyone know the answer to this question: If the title is being transferred from one LLC to another with $0 payment or sale, will I be subject to be paying transfer taxes?

.- Call all the craigslist.org for sale by owners.  

Even if you were offsetting the profits with depreciation write-offs, there will be a depreciation recapture upon the sale by the IRS. - Also keep in mind you will be spending at least $2.5k per month on rent to continue living in NYC while you invest out of state.

We have had success with short sales but it takes patience.

Assuming the fed tax lien was recorded after the mtg, and they are served in the foreclosure proceeding, their lien "sunsets" 120 days after the sale.  

Interested in REO's and Short sales. 

Hey Michael, With foreclosures you need to wait 7 years in order to get a conventional loan (it's a different story if it is a pre-foreclosure, deed in lieu of foreclosure, short sale, bankruptcy, etc).  

Can i use a general agreement to purchase and sale contract for all states for my sellers and buyers?

$26,000 a year for passive cash flow is pretty solid, if you 1031 the sale and you can get a return greater then $26,000 I would consider selling.