My former brother-in-law is an attorney who closes about half of the transactions in Lauderdale County and does quite a bit of business in Tipton also so I could check with him if you need further assistance.

This would mean, under federal law, you must be licensed and regulated to service these agreements.

I would be surprised if there were not usury laws in all states that place a legal limit on the interest that can be charged on loans.

About your mortgage, it depends on your state laws, but usually you are both on the hook even if one of your names isn't on the mortgage.Item 2.

How lead law is enforced seems to be very state specific.

In my opinion, that borders very heavily on violating fair housing laws because sex is a protected class.

All kinds of agreements can be reached in RE related areas as well.We also kick around many legal aspects of RE in the forums, financing issues, landlord-tenant law, title issues and other things that can get you in trouble if you're ill advised.Most in RE that I see on BP are new, I'd have to say getting legal advice in forums is a big mistake, while we may have seasoned investors who have been doing things for years, we all fail to keep in mind at times that all RE is local.Most seek advice as they seem to think they can't afford an attorney.

Low home values and potential for a good turn around with their American HQ going up.

In Chicago, the southside has an area called "Englewood" which leads the city in murders, violent crime, etc" Chicago also is the murder capital of the US (despite the strictest gun control laws in the nation a discussion for another day).

Based on your situation, not collecting rents, using it as an in-law suite, you likely can take up to 500k profit without the 1031 exchange.