I don't know why a smart investor would collect most rents in cash and not show in tax returns since that is what the banks ask to determine value.

You want to have the property entity for tax and ownership purposes but in terms of protection... insurance is your best bang for the buck.

Tax assessments are pretty useless in determining the value of a property.

There's a hearing in a few days to determine if the entire family will be removed from the program.

No one can determine that but you, and it will be based on your goals and finances.Do you have an inkling as to whether you want to get into rehabbing/flipping, landlording, investing in notes, etc.?

I have a feeling I'm going to look stupid asking this but oh well...

Foreclosure Information

Defendant Name: BILLY R MURRAY
Last Sale Amount: $47,500
Last Sale Date: 03-27-1998
Recording Book: 833...

What do ya think, does new ownership affect existing easements on title or by perscription?

An option is not transfer of ownership.

Like many things, a balanced approach will help you learn and determine what works best for you and also be a better judge of what's worth your time (and possibly $) and what isn't .Just be mindful of what you invest in educationally.

I talked with several bankers to determine what would work best for my scenario.