Google says that the Virginia Residential Landlord Tenant Act requires the landlord place the prepaid rent in “an escrow account in a federally insured depository in Virginia by the end of the fifth business day following receipt and shall remain in the account until such time as the prepaid rent becomes due."

I was hoping by posting the descriptions here somebody could help explain it to me and the process of acquiring a property like this.So the listing says "For Sale by Owner $9,999"In the description it reads, "Home has several liens including a Federal lien.

Remember that even if you do not create a formal entity, you may create a partnership for federal tax purposes if you and another party share in net profits.

That would mean keeping more of your initial capital for other investments simultaneously, and since PMI bothers you, just think of it like this: the rent from your brother and boyfriend go to pay the PMI, insurance, and HOA dues, while your portion pays principal, interest (tax deductible), and taxes (Also helps on your federal return), or some mix like that.

Sell and pay the long term federal cap gain (18.8% best case).  

Single member LLC "defaults" to disregarded entity if no election has been made for federal income tax treatment.  

That said, here is a caveat to that: If your new buyer is using funds from a "regular" large bank- that belongs to the Federal banking system ( almost every large bank) they must conform to FNMA guidelines in order to sell the mortgage after your buyer borrows the money ( back to FNMA) .

Maybe you were confusing state supreme court with Federal Supreme court, which does indeed supersede state law?

The original '59 Federal Pacific breaker panel was still there, but not doing much other than looking, well ugly.An old glass fuse box.  

Title Companies, Funding sources, Contractors, and everything else needed to insure success.The "TEAM" is vital and is how you will be successful.This isn't Federer or Nadal playing singles... it's Manchester United taking no prisoners.