Pay attention to the 2% 50% rule.

While I have nothing to hide, I simply don't like having a photo of myself on forums or anywhere for that matter.This is just a personal preference of mine and is something that I hope the content of my posts would offset, but I also understand that some like to see who they are talking to or reading about.At the end of the day, I'd post a real photo if required to do so, but it's a rule that can't be verified since a poster can simply post a photo of Joe Blow they find on the net so why not leave people to decide for themselves?

I haven't yet seen the property - still trying to figure out the numbers and how to make it work, but I am planning on viewing some properties soon.I know about the 50% rule, and even so, the numbers still make sense for our goals.Have I left anything out?

It may have something to do with that rule that I heard about from the Dallas MLS not allowing sites to show sold price.

Anyone that has dug into tax much realizes that the rules and regulations are only a small part of the law.

NOTE: People, you need to read the terms of service which inlcudes the forum rules.

From a licensing point of view you will need two licenses, the MLO and a consumer lending license for the company.The exception to that rule is if you are financing a home that you actually lived in for two years or more and it was your declared primary residence on your income tax forms.Even with the licenses go a plethora of compliance issues from Red Flag to Debt Collection practices, and everything in between.

So far that appears to only be an option if it is my personal residence.Right now, the property barely breaks even or is slightly negative (using 50% rule)in cash flow until the credit card debt is reduced over time.

David,When Canadians buy real estate in the US, they have to be concerned with four things, 1) how to own the property, 2) taxes, 3) probate, and 4) nonresident estate tax.

I was trying to merge this goal with the goal of a moderate cash flowing property but it seems this isn't a possible scenario.I intend to invest in cash flowing properties outside of this deal and have already done one cash deal where I bought a property all in for 33k that would comp for about 35k and sold it on land contract for 48k, with 14k down and the balance to be paid at 8% over 6 years.I am continuing to learn and hope to develop my knowledge and comfort in doing a variety of real estate deals but for now I will start with buy/hold rental properties or land contract notes As I have minimal sweat equity/time.My financial situation is interesting as I am a fourth year medical student who will not realize a substantial income for another 5-6 years.