I'm saying to do this first because you don't want them to rush and send the file to foreclosure.

This prospective tenant has filed this complaint and I'm absolutely blindsided.

And, to clarify, you don't need an attorney to file the paperwork--that's easy--you should seek an attorney's advice BEFORE filing any paperwork to help you select the right entity structure(s) to accomplish your goal.

Once you are a licensed realtor, courts hold you to a higher standard, meaning that they don't want you taking advantage of non-informed (aka non-licensed) people.

SHORT TERM CAP GAINS (holding period of less than 12 months) is taxed the same as ordinary income.I'm not sure what the CA LT rate is, you'd have to look at your instructions for your form 540.If the house has been your PRIMARY RESIDENCE for 24 of the last 60 months there is no tax on up to $250K gain, if filing single, $500K gain for married filing jointly.

You can go to my website at www.prmi-jw.com and look in the Online Forms section for a file named "Understanding Comparable Sales".

When you purchase or sell homes with the LLC, the title company or lawyer doing the closing will need to have a copy of your operating agreement and tax ID for the closing file.

The problems that I dealt with during my first year as a landlord:Water pipe burst / total rehab of 1 unitPay-as-you-go general contractor that didn't finish the work on the unitMold / complaint filed with Health DepartmentCrack in foundation that let water come into 1 unit every time it rainedGot locked in to a below-market-rent section 8 rentalMarketing for vacant unitsTenant disputesSection 8 dispute (although in this case it earned me $1900 :mrgreen: )Fortunately I haven't had to deal with evictions yet, but I know they'll come in due time.

I've been going to the courthouse and getting the probate files for the past few months.

Here are the reasons: legal positions.Don't ask me for details because I don't know them, but I can tell you that combining the lease-option contract (filing it with the courthouse as well) solidifies your interest in the property as opposed to seperating the two which will weaken your legal position in court in the event that your optioner is crooked and has all types of liens and such on the deed that he did not disclose with you.