If you've saved up the down payment for an owner occupied duplex, and are otherwise financially healthy, but your taxes say that you're paupers, let's be real: you probably haven't been being 100% honest with the IRS.

I would never put anyone, including a tenant at risk for anything - I want them to be happy and healthy.  

Mike thanks for looking into those policies I will approach the situation with a healthy skepticism.

Thank you all for your feedback, I guess I need to take this one back to the drawing board :/It just feels like Dallas/Collin is such a hot seller's market right now that there is no negotiating deals other than offering full or above list price currently, so I was trying to be creative in thinking of other alternatives that would give me more negotiating power.I understand that sellers in pre-foreclosure are probably not going to give me or the lender any money, but do you think it would be worth it to them to redo the deed in a land or living trust with joint ownership(with me) if I were to 1) bring the loan current and 2) take over the payments, so that their credit score wouldn't be wrecked?

Totally confused.Side notes: I'm in the 15% tax bracket, married filing jointly, property isn't in an LLC.

The leak is at the joint between the front wall and the floor slab. 

My partner and I are heavily pursuing multi-family and apartment complexes under 10 units as our first joint venture.

Hi,I joined the site recently after getting hooked on listening to the Podcast during my work commute.I work in the Construction Industry in Ireland in the Commercial/Industrial side of things and have always harboured a desire to get into Real Estate.I have decided that 2017 is going to be the year I finally get my feet wet and get stuck in with some deals.The property market in Ireland took a severe hammering during the recession but has shown signs of healthy improvement over the last two years.  

If they are all adults, age 18 or older, they should all be named in the rental agreement as "jointly and severally liable".

Get to know housing inspectors - they can refer lots of leads to you.Get to know the sheriff, they post Failire to pay rent notices.Be prepared to make an offer - all of my Associates keep close at hand an accordion folder with every form they need; skinny contract, blank checks, seller financing clauses, lead paint disclosures, option agreements, joint ventures forms, management agreements, long form commercial contracts, hybrid contracts, APOD form, listing agreements, Biz cards, personal "one sheet".Be ready and prepared to make an offer - understand nothing down formulas, use controlling tactics, get yourself in chain of title, make appointments, look at properties and make offers everyday.