It would greatly behoove your parents to sit down with a business organizations lawyer to discuss how the "chips" would fall if your parents pushed any of the above options.

You also don't have the backing of the broker organizations to help train you and support you when you have questions.

Major fixer but lots of potential here.  10 bedroom, 0 bath home, around 5,000 to 10,000 square feet.  The property has real limestone floors, 3 stories, a solid red-stone foundation, a very large pool and lots of room to expand.  Home would need to be brought up to local building codes.  Buyer to verify permits.Offered at $500,000, includes wholesaling fee.Rehab estimate: $35k, needs new electrical, plumbing, HVAC, roof, some walls, a few bathrooms, windows, some foundation issues, and all interior fixtures.

Section 83.51(2)(a), F.S.In addition to providing the above requirements, the landlord of a dwelling unit other than a single-family home or duplex shall, at all times of the tenancy, make reasonable provisions for:Extermination of rats, mice, ants and wood destroying organisms and bed bugs.Locks and keys.Clean and safe conditions of common areas.Garbage removal and outside receptacles.

You put this in commercial real estate topic.This designations are more residential in nature.If you want to start learning commercial go after the CCIM as a start.When you decide what asset class you enjoy and want to specialize in (retail,land development,hotels,office,industrial,multifamily,etc.) then you can get additional training from organizations that only handle those fields.

. § 1112(b)(10)....Chapter 13 is what most individuals are placed into; this is intended to set up a schedule for repayment (sort of like a re-organization).

More info (in case you're having trouble falling asleep): :wink: In spite of the general exclusion from UBTI for passive income, tax-exempt organizations still must pay tax on a class of UBTI called "unrelated debt-financed income" (UDFI). 

All joking aside, it's pretty amazing what this organization has contributed to global health, education, etc, over the past several years:http://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_FoundationBtw, having worked for MSFT for a long time, I can promise you that employees of the company make a LOT more jokes about their own products than people outside the company make...there is plenty to joke about

Trust me when I say - generally speaking (meaning this is not written in stone - there are exceptions) I would STRONGLY recommend not touching a condominium with the proverbial 10' pole as far as an investment property is concerned.

The way I got started was establish a checking account in the LLC, deposit more cash than you withdraw, request portfolio loans, treat the organization with respect and keep to your word and then request the business line.