This becomes more important for plan 2, but applies to both as we intend to start locally.Due to our limited income we only have about $10,000 we can invest at the moment.

Trey your on the right track but you should be able to reap the benefits and limit your liability as well.In CA, we have this form below that basically tells a seller that you are not representing them and they should seek legal,tax,etc. counsel if they need it.http://www.wrightrealtors.com/pdf/non_agency.pdfThe good thing about TX, is that the laws are much different and the disclosure requirements are much less.

One that would seem to come from someone who is not all that tapped into the actual market but rather an outside spectator trying to devise some scheme with limited knowledge who then sells the plan to folks who know as much or less than him.

Over time, I've learned that the failure list isn't really a good measure of the longevity of a bank.

In recent years Congress enacted two amendments to Section 121 in order to limit the benefits of Section 121 when the property has been used as a rental.First, if you acquire property in a 1031 exchange and then convert it to your primary residence, you must own it at least five years before being eligible for the Section 121 exclusion.Second, the amount of gain that you can exclude will be reduced to the extent that the house was used for something other than a primary residence during the period of ownership.

Go small, gain experience, and grow capital smart which limits risk.I know some about hotels but not an expert.

I would check with the local building department; maximum deflection limits are set by building codes.

This starts the statute of limitations for that state.

If a couple were to invest together, their ownership was over the 20-25%, so they decided that they would come in individually, coming in below the ownership limit.

if you have great credit, solid assets and great income, sure,,, it would be based purely on your financial situation and wouldn't be secured by any properties.Banks prefer to have something to secure a loan with, so an open line of credit will be limited by your credit and ability to pay.