I was beginning to draw that same conclusion myself.

I had a couple conversations with Equity Trust Company (ETC) on this, subsequent to my post.

Oregon law says a director of my company had to be licensed, so i had the lawyer draw it up that my corp have director with no shares who has a license.

Does heavy clothing interfere with your ability to draw fast?

Notes: 1) if I buy a $100k note and DOT against an AZ property, I live in CA, and subsequently sell the note at a profit, do I pay AZ and/or CA state income tax?

I will keep looking.The 2010 Florida Statutes Title XLREAL AND PERSONAL PROPERTY Chapter 695 RECORD OF CONVEYANCES OF REAL ESTATE View Entire Chapter 695.01Conveyances to be recorded.—(1)No conveyance, transfer, or mortgage of real property, or of any interest therein, nor any lease for a term of 1 year or longer, shall be good and effectual in law or equity against creditors or subsequent purchasers for a valuable consideration and without notice, unless the same be recorded according to law; nor shall any such instrument made or executed by virtue of any power of attorney be good or effectual in law or in equity against creditors or subsequent purchasers for a valuable consideration and without notice unless the power of attorney be recorded before the accruing of the right of such creditor or subsequent purchaser.(2)Grantees by quitclaim, heretofore or hereafter made, shall be deemed and held to be bona fide purchasers without notice within the meaning of the recording acts.History.—ss. 4, 9, Nov. 15, 1828; RS 1972; GS 2480; RGS 3822; CGL 5698; s. 10, ch. 20954, 1941; s. 8, ch. 85-63.

Expense79320TOTAL OPERATING EXPENSES36298480107784TOTAL OPERATING INCOME255761572112501CAPITAL EXPENSERoof Replacement25000TOTAL CAPITAL EXPENSES25000NET INCOME (LOSS)253261572112501ADJUSTMENTSTenant Deposit600500-1100Owner Draw-25926-16216-9901TOTAL ADJUSTMENT-25326-15716-11001CASH FLOW:001500

Please look up Ron Ballard.He is the #1 Short Sale Lawyer in the US and who we use to draw up our CA Short Sale Supplements (Addendums) we use to fully disclose our intentions to all parties involved.We disclose to the Homeowner the reason we are putting their property into a Trust is for Asset Protection and to Add Value to the transaction otherwise not possible with a Tradiotional Short Sale.

I'd deposit RE cash flow into it and down the road draw from it (tax free) to make improvements to real estate, acquire new real estate, etc.

Legal definition for "subject to mortgage" as the Philadelphia sheriff's office has it is:The property is NOT being sold as a result of the first mortgage, but as a result of delinquency on a subsequent mortgage.