I have seen too many people simply "wing it" only to get buried in IRS, legal, or other troubles that are much more costly and could have been avoided.

WASHINGTON -- Federal regulators have accused billionaire Dallas Mavericks owner Mark Cuban of insider trading for allegedly using confidential information on a stock sale to avoid more than $750,000 in losses.

Now that you have the risks pointed out, the benefits are tremendous going with the "assuming you buy right aspect"You control property you otherwise may not have been able to, you increase your tax deductions, and cash flow, and the low interest rate currently is the cheapest $ in the biz right now.

Oh, and some of these professionals were telling people to sell stocks and avoid bonds and move into cash since around 10/2007 (the high)."

My understanding is that a homeowner can put their property into a LT with a named trustee( usually their attorney) for the purposes of estae planning and avoid the DOS.

Even though it will be your primary residence, avoid falling in love with any particular house.If you're not working with an agent, you might consider trying to find one.

I knew there was some "too good to be true" aspect of this.

Bernanke may favor a rescue to avoid the chaotic aftermath of Lehman Brothers Holdings Inc.

Holding properties in an S-Corp would, in most cases, trigger self-employemnt taxes which is something you want to avoid in the RE business.

The pictures you find of the property will be the BEST aspects of the house.