True, the REI content was salted with sales pitch and conditioning every step of the way, however an intelligent person ought see through that and be able to separate the REI content from pitch.

I am needing to find a contractor  in the Salt Lake area, who can help me by getting me good estimates of rehabbing costs.

@Mark Sossoman, most attorneys won't even touch any type of deal without a retainer of some sort usually between 5 & 10k if they're worth their salt.

And then to put salt in the wounds, even if the loss is allowable, the investor may be subject to the Alternate Minimum Tax.A good Enrolled Agent may be able to sort out what is still possible today with the right entity structure and investment.

Take everything with a grain of salt, and then sit down with someone else, and then another, and then another.

The problem is that I obtained this company's information from a "guru," and have been taking everything he's said with a grain of salt.

Therefore, please take my suggestions with a grain of salt, and do your own research into the labor laws of your area.

That being said, take everything for a grain of salt.

And a total disservice to the seller.And any RE broker worth their salt will realize these bogus POF letters are just what they are worthless piece of paper

@Daniel Dietz- @J Scottis an authority on this...so take my response with a very very small grain of salt.