On income property its different if its smaller its a headache and requires management but larger projects often hands off just a check in the mail and a cam report to go through every month.

Note that it takes awhile for a non-paying loan to be declared defaulted (up to 6 months) and trigger reporting to the IRS.

I will definitely be continuing school.I will be reading around and in a couple of years you should see me reporting back here with my first deal.. see ya'll soon.

The good news is you CAN buy directly from one of these servicers like Granite Mortgage Solutions, Gemini Group, Kondaur Capital, etc.

the only one what is more fussy is the water and sewage. it's the township and they report ownership changes to the tax dept, they require landlord info.

You would probably have to officially collect a paycheck from them and report it on your taxes for 1-2 years.

And in the mean time strangled with debt.Even new nurse grads are having a hard time just read this story i found today on CNN http://money.cnn.com/2013/01/14/news/economy/nursing-jobs-new-grads/index.html?

IMO it would be a waste of time to make a police report or show up in small claims without proof of what was stolen.

If she has been there for 3 years and you don't have a security deposit, you probably also do not have any pictures of condition reports from when she moved in.

I also don't belive any of the money he collected as income has been reported to the IRS.What exactly is he guilty of and what would you do?