OMG, skip the stock market at all costs, unless he likes to gamble and rely on others to determine his future.Take serious courses in commercial real estate, then pick an asset class with the best current track record in a great market (NOT Las Vegas, MI, etc.) and plop down the 20% down payment on a mobile home property.

Ownership of the the large one near the airport is cloudy but you might be able to make a deal there.

Of course without knowing the numbers on the real estate you are purchasing it's hard to determine if you are getting a better value.

That can help determine a partial exemption for you.

The name C Corporation is used only to distinguish one taxable entity from another taxable entity (there is no Subchapter C, which governs how a C Corporation is taxed.)Because the "S" simply refers to a section of the tax code, choosing to tax an LLC as an S Corporation affect ONLY the rules used to tax the LLC - NOT the rules to form or operate an LLC, nor the rules that determine the liability of the owners of an LLC.LEGAL REQUIREMENTS & LIABILITYLegal Requirements:The rules to form and operate a Corporation are different from the rules to form and operate an LLC.

"they owe the bank $295,000"NO according to YOU she is on title but not the mortgage.If that is true she owes NOTHING to the bank.She just has a partial ownership by title with a property that is underwater in value.Even if it forecloses she can milk some more months as a "tenant at will" before the bank can get her out.Usually they will offer "cash for keys" for her to move.This time of year with court delays for evictions it would most likely take the bank awhile to get her out.She could always try to get the husband to sign an "authorization to release" from giving her the authority to speak about the loan to her.With an underwater house most owners/tenants just care about the mortgage payment.Example house was worth 200k but now worth 130k.Mortgage payment is currently 1,600 but owner/tenant wants payment of 1,100.The bank might readjust the loan payments rather than foreclose and take a big loss.It depends on what type of loan it is and who owns it and workout options.If you bought it for cash at foreclosure then she could stay as a tenant and you have her sign a lease and she rents from you.The details will be based on a state by state basis with time lines and risks involved.She could try to buy the note at a discount or get an investor to try to purchase it on a short sale and rent to her etc.The confusing part of your statement is you said she had 150,000 cash but yet recently filed bankruptcy.Are your sure the husband didn't file bankruptcy and she received the money from the proceedings??

I thought ultimately, in times like this, the global market will be the final determinant on rates, even for the mighty USA.

A 4 or 5 br house would probably fit the bill.I see the property taxes in Texas are high, but how are they determined?

I look at the community as a whole to determine the common bldg sizes, configurations, materials used.

How do you determine which one to use to gain control of the property?