All kinds of agreements can be reached in RE related areas as well.We also kick around many legal aspects of RE in the forums, financing issues, landlord-tenant law, title issues and other things that can get you in trouble if you're ill advised.Most in RE that I see on BP are new, I'd have to say getting legal advice in forums is a big mistake, while we may have seasoned investors who have been doing things for years, we all fail to keep in mind at times that all RE is local.Most seek advice as they seem to think they can't afford an attorney.

Plus if they're really successful you'll understand the business aspect of it from a successful agent.

I also think you should sell but you will want to avoid paying a significant tax bill.

One of my favourites is the second podcast, discussing subject to's, direct mail, and unique aspects of being a woman investing in real estate.

I understand that many people from the Lower Mainland are avoiding the area and instead investing in US cities.

Hello BP,I have a motivated seller who would like to avoid short sale, but has told me his house is worth 300K and he owes 600K!

What you want to avoid are depressed markets, and those that lack good economic fundamentals.

The same taxes apply but it may not hit as hard due to inflationary adjustments.If they are trying to avoid the taxes on that property suggest a 1031 exchange.

I am sure we can all agree the heat " issue" is an attempt to avoid paying rent.

If you flip, you may want to consider an S corp because you avoid the self-employment tax... however, as @Barry M. mentioned above, you can set up an LLC and then elect S corp status for tax purposes.