I read in another post that with a partnership the partnership would have to file taxes first and then submit a K-1 form to each partner to file their own taxes. 

That ain't fun if you've used your money for deposit, waited 3-6 weeks for court date only to have Johnny come lately snag your deal.In my state, CA, the underlying document you would want to review to determine level of powers in referred to as Letters Testamentary.

@brandon turner@bill Gulley@jon holdman@j ScottSo I put an offer on a bank owned property and was told there are multiple offers and to submit my best and final.  

Just be detailed with pictures, receipts and any other documents and you should do fineThe tenant would have to send you a demand letter before suing, so at that point you could negotiate if you wanted to. 

This is a value add deal and is not bank financeable due to condition, mismanagement, and lack of documentation.

My last four houses have been in flood zones and it had no effect on the sale of the properties.If you think I am on a coast somewhere the properties were actually in the desert  of Palm Springs, Indio area, The flood zones were classified as once in a 100 year flood zone, Also to mitigate the insurance requirements you just have to submit a elevation report some on file with county some had to pay for. 

I will definitely be contacting the tenant and get the rent checks diverted to myself and the locks may not be a bad idea also, given I still don't have any documentation indicating I agree to let them manage the property.

Now if you contested the appraisal and got it down to $175,000 you would be paying about $3,200 a year, which isn't a huge savings but can help.http://www.kershawcountyscauditor.com/RealProperty...Here is a pdf of the sates millage rate broken down by county:http://sccommerce.com/sites/default/files/document...

There are spiders in the house. several other petty issues.We finally found a next renter now he wants us sign the following before he moves out: 1. (1) That they be let out of their lease effective on their exact move out date;(2) That their deposit be returned by exact one month of their move out day.(3) That their rent be pro-rated so that they pay only through their move out date for the month,(4) That no action is taken against their credit.He asked a lawyer (not litigation yet) drafted this document to sign.

I will be going through the process of getting my General Contractor approved and submitting the scope of work to be approved.