Your Blog gives a good picture of expenses you are dealing with that may not be as common as your suggesting in all fairness.

More common in commercial loans, with bank approval.Lots of people talk about doing subject to property buys.

To answer the original post, would these questions even be posed if a uniform or commonly used Operating Agreement were adopted in a new or existing LLC?

They give you the basis for real estate investment but the true lessons come from your desire, research, determination and how you apply the common sense mathematical skills to this field.When I decided to start investing 20+ yrs ago I saw it as a means to financial independence in the future.

Now, that said, the only way that would be the case is if:1) the seller didn't know how to determine the value of his property, and was ripping himself off;2) you had the ability to reduce expenses to a point where very few owners can; or3) the seller is extremely motivated for some reason and is willing to practically give away his property.I'm guessing it's none of these, and that you are actually being too conservative in your pro-forma estimates.

She let me know that her lawyer was going to send a letter to me requesting my insurance company.I put in a claim with my insurance company and after reviewing the facts, they are claiming the incident occured on "common ground" and are also denying any kind of liability.One thing I want to note.

Originally posted by Benjamin Subercaseaux: I live in a community with 382 people and my hoa actually makes a conscious effort to limit the correspondance to the community.Unfortunately, this is all too common.

When your condo is inspected, make sure he inspects ALL common areas and all of the building itself, (ceiling, roofs, stairs, streets, etc) inside and out, because you will have to pay a portion of those repairs, too.

:groovy: My questions are:1) is this a common and/or legal arrangement in the USA?

Be extremely careful....These scams are on the rise again due to our weak economy and the desperate souls that are looking for something for nothing.