Sorry, by saying option I meant and or the contract, i.e. if you were able to get the option, you are able to sign the contract.

Don't take it personally, its meant to be helpful.You say two things that make me think you should not own rentals:1) "Who can help me ... find a deal in positive cash flow properties?'"

It would be VERY easy to "humanize" this issue and talking about throwing the poor out on the street (as it would be construed) generally would be hard to get any elected official to sign their name to... and certainly not a majority of politicians.Entitlements are sticky in this manner as the recipient becomes somewhat reliant upon the benefit (for example a 80 y/o who didn't save anything to rely on SS).

I assume what the previous post meant is that by buying from the previous owner with a deed in lieu, I could at least reap the benefits of owning the property (in the shoes of a homeowner) while waiting to close a deal of some kind with BOA.

Sorry, I meant to say the Z-estimate is useless.

haha that was really not what I meant the discussion to be about but you picked up on it and ferreted it out.

Meant to add the link to the City of Chicago.

It is referred to as a disregarded entity; this means that it will be treated as nonexistent unless you: 1) take on partners 2) elect to be treated as a corporation(defaulted as a C-Corp) 3) elect corporate status and make an S election using Form 2553.The LLC route is a bit pricier; however, most attorneys will recommend the LLC for liability protection.

It is usually meant to differentiate from a mortgage broker.3.

I don't think any of these shows were meant to be educational or 100% true to life.