Sounds simple, but in many places this is very difficult.

I also read through a number of legal articles, paper, the Texas Property Code, etc. and I can't find anything specifically relating to how we gain an interpretation of this from someone empowered to do so.

Sounds simple, but it isn't.. there are too many variables to consider..

Pretty simple to answer - but much harder to establish good contact and relationships there.

Provide the highest income you can to them at a rate higher than they can get in CDs or other simple investments and you'll get thier attention.

I thought the L/O strategy would be more simple to start off with instead of flipping REOs or HUD houses.How did you find sellers that were willing to do a L/O with you?

If multiple offers on the table, clean and simple, even at potentially lower price, will often win the bid.

As far as biggest benefit to RE investing another HUGE benefit in my opinion that is just as high up as the ability to leverage is the ability to actually have passive gains in the real world but be able to show a paper loss in the accounting world, again by the use of our friend called depreciation.

James Vermillion- That's true, in a perfect world I'd love to have that all paid off before December.I have a question (one of many to come, I'm sure): I keep seeing something called "yellow letters", and when I looked it up, it looks like handwritten letters on yellow legal pad paper.

Had it been issued in the BP name then yes, it would be treated as such.However, based upon the paper trail here; if BP were to recognize it as income and then produce this thread that even though it was in J Scott's name, it could be deducted.Gentlemen, what a tangled web that has been woven here.Steven