Read or heard it was changed, or they were thinking of changing it, to a prorated basis where you were to pay according to a proportion of years rented and years lived in.Another question: If someone 1031's a place then is there a time limit the new property needs to be a rental before it can be lived in and converted via 2 year time horizon, into a residence and becoming eligible for tax exemption.

'just because I think the Scorpions are the greatest 80's band..doesn't mean everyone likes them...'

Thanks, Arthur.I guess being employed for the last two years and owning a business in another country counts for nothing...Questions:-Two years of w2's is what I heard from my loan broker as well.

A well maintained 15,000 sq ft. building with an elevator is hard to ignore.

What subject is/are your academic degree(s) in?

C Corp and S Corp tend to get double taxes (tax income, than tax salary/dividend distributed to you) and have much higher overhead costs to stay compliant.

If you use a property manager (PM) then does the "you" mean the company and its agent(s)?

Payments made monthly of $600 for the entire duration.Property as collateral, purchase price $70,000.So, Investor gets $100/month for use of their money over 8+ years...thanks,S.

I can see values dropping a bunch but for the cash flow rent rates to drop by 40% something drastic had to happen in the area.Either your property was in nice shape and now it is trashed and instead of pouring more money in you have reduced rents over time OR the area has been hit with massive foreclosures and new purchasers reduced rental rates to rent up fast.I like the idea of the local investor to take it on.I never buy 2/2's unless it's apartment buildings.For resale 2/2's are really hard and do not hold value as well as 3/2's.Some areas it might make sense but not for me.

It looks like the #'s are across the board but definitely an upward trend.