I've also been reading quite a bit about the 50% and 2% rules and wanted to validate my understanding of them.

It doesn't sound like you have any valid reason for"filing a lien".

Upon my 2nd or 3rd property I believe that would become more valid, or am I mistaken?

The credit program, the home warranty, the contracts, which they won't have nor will they copy mine, and wouldn't make sense to use without me anyway, the financing...everything.

I suggest trying to find an investor who'll buy the house for you after it forecloses.In addition if you have a valid lease, explore your rights under the Protecting Tenants at Foreclosure Act of 2009.

Rich makes a valid point. $50k or $500k, the total % of investment should be a factor.

Doesn't make it valid, legal, or enforceable in a court of law.These are important points.

The "gifting" limit is 13K per year.Perhaps if we transfer title to all three of us with a warranty deed after the close, we can deny it was a gift if the IRS asks???

There is nothing wrong with trying to buy "as is" properties, they are simply saying no warranty, buy it as is where is and what you see is what you get, nothing more.

I've had several occassions to be involved with condos, I do like commercial office, but not residential.If you're interested in them I'd suggest you know the market, who owns the developments and the operations.Construction is usually on the low end, some are built for future maintenance, just like that coffee pot designed to burn out after the warranty ends.