Charging fall/spring semester tenants for storage during summer break perhaps?

Which brings up the other thing I didn't like in in Jerry's post - it seems to imply that bankruptcy filings are local/county when they fall under federal courts.

Would you buy now if you were willing to be a landlord for 20 years, or wait until prices fall for whatever reason?

A close friend of mine lost her house in the fall of 2010.

The land, unlike a car, remains stationary.Debts on real estate fall into two main categories: voluntary (meaning you agreed to the debt and a lien is recorded against the property to secure the obligation) and involuntary (taxes and judgment liens are most common).Unlike a car, when you borrow on your house you sign an IOU (the "Note") and depending on local state law, either a Mortgage or Deed of Trust (Trust Deed) that is a voluntary lien and recorded, referencing your property.Typically, you receive the actual recorded title document, "Grant Deed" or "Warranty Deed" or similar document, without any reference to any liens.Beyond this, real estate title is a big, complicated area of law.

If yes, maybe you can give some pointer to the BP fam. on how you prevent your deals from falling throughThanks

I heard a rumor that there are realtors that work for non-profit to get people into homes that cost 100k and less that will bring you the house to renovate and the buyer without commission costs as long as it falls under that 100k price tag for their clients, not sure if that's accurate though.

One week before closing, the bank learns that the property was transferred from an LLC to the sellers person less than 180 days ago, this means the property falls under flipping rules and needs a second appraisal.

A Piggy Back loan refers to a loan which falls into second lien position upon a simultaneous closing of the first.  

Well although I fall into the age category I don't think i'm exactly representative of a typical generation Y.