This way I can get out of renting (been a renter for 5 years, ever since college) and start to move toward property ownership, while putting some sweat equity in the picture. thanksmatt

It sounds to me like your plan is to protect her ownership of the property in case she gets sued for something unrelated to the house (e.g., a car wreck where someone gets hurt).

all cashMakes sense.I'll have to determine what jobs I'll take on and what I'll sub out.Thanks allcash!

Now in reference to the bigger picture here, you need to look at and determine your debt strategy and research the advantages and disadvantages of leveraging your money versus paying off debt, which is another discussion in itself.

thx>>It's really better to buy things directly from the county because you do not have extra fees added to the ownership of the lien.

Andrew, your lawyer was talking about a cost segregation study.It involves identify and separating short life assets from your new property basis and depreciating them separately, thus accelerating depreciation.For example, you can depreciate a 200k property over 27.5 years, ORUsing cost segregation, you determine that you have 20k in 5-year assets within the home(carpet, fridge, AC, etc...)You can depreciate the 20k in assets over the next 5 years and depreciate the 180k for the property over 27.5.

This may seem impossible (and some are probably laughing), but you will only find what you're looking for and if you're determined it's not out there, you're likely to never find it.

You're correct in that tax deeds convey ownership.

You may, however, wish to consult with the Department of Housing and Urban Development to determine their rules regarding real estate sales and the arranging of FHA loans.

Your insurance rate can be determined by calling a couple different insurance companies and asking them for a quote.