I guess I am just out of touch with this stuff so I was curious why anyone would do it and if it actually worked.So do you get business credit cards is that what you have.. ?? 

Even if you were to want to have a portfolio in Omaha (I’m guessing your wife is at UNMC), what you are describing for the payment and amount owed on the house you own it doesn’t seem like a very good rental property as far as the numbers go.

Protect yourself with an umbrella liability policy if you're concerned about being sued.One girl's opinionStephanie sure, but i guess my question is more along the lines of...when setting up a business account, what bills have to be transferred over to a  business expense?

If they somehow guess you are the owner though, it still doesn’t matter because you would not be the owner.

Since there is no realtor and commissions involved I guess what im trying to get here is, what would be the 1,2,3 steps to close, for example (1. the EMD is now sent to the sellers title company etc etc..)  

@Nyan ReidI would guess between 1,000-1500

Depending on how many walls, rooms and closets you have, you might have about 3500 sqft of drywall in a 950 sft basement (I am guessing).

I'm not quite familiar with prices in Philly, but I would guess if you could get something where your paying less than $500 per month to live that would be pretty ideal.

I would guess if the business takes a loss they may possibly take a hit as well.

The results are bothering me, but it could be because I have a clean criminal record and I guess I expect others to be clean as well.