We just completed the inspection and realized the building is leaning pretty significantly.

And if so are you willing to take on that financial and potentially legal liability should the worst case be realized. 

A couple of months ago, I realized that what had happened in China was likely to happen here, too. 

I realize over two years is tax free, but im not trying to do this. 

Often times that's enough to have them realize that getting the next car, phone contract, credit card - is about to get a whole lot tougher if they don't pay you what they contractually owe.Go get what's owe you.  

I get your question but just hope it doesn't open people up to predatory practices.One upside could be people realizing the real volatility of the stock market.

Advice for anyone in CA who has unwittingly had an out of state LLC for many years without realizing CA's FTB rules on registering out of state LLCs?

I wouldn't do C Corp if you plan on holding, and while I realize partnerships are very powerful (but not exactly sure why), gain the asset and liability protection of the LLC while still operating as a partnership.Then, 3Friends will be the managing partner for each development project/venture/company that you do. 

Realize to buy from these people likely will not result in favorable terms to you. 

@Timothy Hero Ohh shoot I didn't realize that.