Thankfully none of my carry-back sellers have requested my tax advice.  

Misappropriation of security deposits is punishable by jail time and a fine.Here is what the Oklahoma statute says about returning deposits:"Upon termination of the tenancy, any security deposit held by the landlord may be applied to the payment of accrued rent and the amount of damages which the landlord has suffered by reason of the tenant’s noncompliance with this act and the rental agreement, all as itemized by the landlord in a written statement delivered by mail to be by return receipt requested and to be signed for by any person of statutory service age at such address or in person to the tenant if he can reasonably be found.

The one bullet point non-detailed summary of who is likely to end up on one of those financial, mortgage, and real estate type crimes - to include non-felonies.In terms of timing, I just pulled a random file up from a closed transaction in Oakland, and the database checks were run 5 days after I submitted the file as a matter of course with no particular rush request or anything, which tells me that if it was going to be an issue then this borrower would have known in time for their earnest money to be protected by the loan contingency, but after they've spent a grand on appraisal and inspection.When someone volunteers that they are concerned about mysterious government watch lists, we run that check at the preapproval stage.

They often will want to hold the rehab funds for you and have you request draws as the work is completed.

You can correct this oversight by filing a form 3115 with your tax return which will allow you to correct all of the past errors at once and establish the correct method going forward.File an extension for 2016, send in a little money if you usually owe with your extension request and get thee to a competent real estate focused CPA.

But before I make a decision, I did plan on requesting a copy of his lease and go by and talk to the current tenant.

I have a request for a hard money loan which is not put against a specific property, what is the recourse if it defaults and what could I do to prevent losing the money?

Hi All,I posted this in another forum, but didn't receive feedback so I'm posting it here. I recently passed my RE exam for MD and plan to obtain licenses for DC and VA next. I'm looking for suggestions from the agent...

I also requested he have at least one more roofing contractor walk the roof before we settle on this method.

Maybe you have to request me or something.