I'm not against doing basic work like painting or floors which I've done before, but I'll leave the technical stuff to a pro.  

The way I see it, I being 27, am technically my father many years ago.

So you are technically still subject to securities laws.  

which is technically worth 20% or so - i.e. 2k cash in your pocket?

You have to be careful with your marketing as technically its aganist the terms of the contract and can irritate the listing agent if they want to be anal.

That pedantic technicality aside, Brie is spot on: the 50% rule is a simple a back-of-the-napkin or in-your-head litmus test to determine if a deal is worth further pursuit.Before getting serious about an offer, you want to get *real* numbers for all the operating costs, along with vacancy/bad debt/eviction/turnover history, some knowledge on the area and the tenant clientele and perform a full analysis on the property.

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If it is real property then technically the title would have been shredded by the DMV and it has become part of the land just like a house is part of the land.

My wife and I looked into constructing a commercial property out of them thinking that the price would at least be the same as stick construction and look cool, but found out that in the city the engineering requirements to get approval from Planning and Development more than offset any underspend in materials.Engineering companies would only quote us on a time and material basis because they could not predict how much re-work the city would have, or if it would even be technically feasible.  

Technically "liberal" should apply to your view on the level of involvement the government has in the operations of the country.