The homeowner can choose not to include the house in the BK and sell it short in some cases but I don't believe the bank has a choice in the matter.

Please be careful when you're buying properties on line or from seminars.

(PS - Czech by birth; Hungarian by marriage and divorced by choice) :)Although I respect both your opinion and that of my dad, I do disagree to an extent.

This isn't to say that a duplex or triplex is a bad choice, they just have different characteristics than a single family home.As for the 1031 Exchange, you should learn it inside and out, and don't get confused, you aren't avoiding gains, you're deferring them. :)

Maybe look for a discount agent who will place it on line and handle disclosures but not be required to do any showings or negoitiating.

Wow , just wow........Of course, we'd need better numbers about the properties purchased and if they're cashflowing.I agree with most of what has been said, you have over leveraged and made very poor choices.

In the next couple of years when all the adjustable rate mortgages start to come on line we are going to be facing this hole problem all over again.

Everything you need is right online.

So if it takes about 3-4 months to foreclose on someone, I would expect to see the market to be flush with foreclosures starting 2nd quarter 09 and the housing market bottoming out starting in 3rd quarter 09 since their should be less foreclosures coming on line to depress the market with.Therefore, my objective between now and then is to accumulate properties now for cash flow and position myself to be able to accumulate more property in late 09.

I have found the most success finding both buyers and sellers by doing online classifieds with driver ads to my website where I can capture the information of interested parties.