Less compliance with muni codes.I could add many other aspects, but they are really spin offs of the advantages already posted.

You can put far more aggressive pay downs using options, plus it will not trigger a due on sale and if you decide running 44 houses is not for you, it is a lot easier to unwind.

This is more of a broad question then any specific situation but this could be an issue for anything from SEC compliance for Intrastate Exemption to local taxes for being an out of state investor.

I have not heard of anyone getting nailed on it for over 15 years now.I would assume anyone thinking of conducting any new business would check to ensure compliance with applicable laws.

To play devil's advocate some (mostly proponents of such method) argue that strategic default is in compliance with the note terms you just lose the house (along with your credit for some time) if you do so.

You might regret dumping the condo in exchange or a small loan.If maybe you had a job lined up in Jersey it would make sense to pull the trigger now.

Can he/she foreclose, with the note controlling the circumstances when they can pull the trigger?

I am incorporated and have been in the proverbial “get your learn on wood shed†for two years now waiting to pull the trigger!

It took us a while before we would pull the trigger and send out that first offer, but it is definitely worth the effort.

Maybe, try one more reduction in price but don't be afraid to pull the trigger and cash out.