Some of the more successful investors on BP are located or are active in the state.Tell us a bit more about you and your background before RE.

Some will remember that I was an active contributor to the old site.

If not, just assign it.And you have my full support to engage in any, and all, illegalities.

I would rather not have them as active partners in my investing and DO NOT want to purchase this house.

I have been a active agent/investor of 6 years now.

Since basis can decrease faster than debt (due to depreciation), the fraction can increase over time.Any sort of active income, such as running a factory making widgets, is also subject to UBIT.

You and your sisters did, so you and your sisters will have to report each person's share of the activity on your 2006 return.

I have taken courses from the big gurus, but I found that I have learned so much more about real estate investing by just talking to the local investors that are active in my market.

Ronald - Just because companies are active in your area does not mean they are competitors and viewing them that way creates a "scarcity" mentality.

For my business, I came to the conclusion that my seller financing activities would be focused more to investors and less to home owners.