As to wholesalers using a nonexistent partner, you're touching on deception and fraudulent conduct.  

I just wish I could write off my gambling loses when I go down to vegas, but the CPA says that won't work.  

I could be wrong, though.I thought it was just fraudulent transactions.So could you give me an example of a money laundering transaction?

You can call 1-800-7-Fannie to report fraudulent activity, which I suspect is occurring in this case - again, specific to Fannie Mae's rules.

It is an expensive advertising medium, which seems to eliminate fraudulent ads.  

I will say, NJ is a gamble with crazy property taxes, but there are loads of people making it work.

I have paperwork ready to file to remove two out of three of the fraudulent liens, but there is a third "fake" lien and that person has died.

Unless you think it will appreciate big time (always a gamble but hey, we all have our methods.)

It's fine to invest hoping for appreciation, but counting on appreciation as your sole business model is gambling with all the risk but none of the fun.If you want to keep it, I'd consider using it for a vacation rental. 

If that is the case you have a huge potential problem if your exchange was ever audited to show a note and a mortgage (it doesn't have to be recorded but if not can be very easily perceived as fraudulent).