Want to understand more about tax issues, liability, and asset protection regarding investing in real estate.

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

So your saying select No Damage Protection and just submit an extra charge when it's warranted? 

My view is there is more protection on a wrap than a sub to and with the right disclosures and underwriting can be an alternative option. 

If I was the buyer's broker, I would have checked myself to protect my client.If they had, then they would have found out it was not a three family.

FL seems to have reigned in HOAs recently, so who knows what they are allowed to do.I know that in CA, an HOA can ban smoking in units because smoking is not a protected class and the HOA has an interest in the safety & health of the building. 

If not, you’ll need to resolve these liens, which could complicate the investment.Current Occupants: The family living in the property could be protected under Massachusetts’ tenant and housing laws.

It adds extra protection for your assets.

The other benefit to verify is if you have loss protection.

I misspell myself, :-) but the statutes to concern yourself with are12 United States Code USC Section 1715Z-19and theConsumer Protection ACTand a couple of others if you are interested.