This is a federal requirement but provides no protection against lead paint lawsuits. 

I would also caution people about hanging onto state laws that may vary, federal law prevails in every case and HUD can make a determination if state law fails to meet the intent and application of the D-F Act.If any investors gets close to a seller financed transaction they need to be familiar with this Act just as the should be familiar with other federal laws on RE such as TILA and RESPA. :)

I vote for something permanent and reasonable at the federal level to protect tenants.

The regulators are federal, not just state.

Has anyone dealt with Logix?

If so I'd love to hear your feedback/input, specifically in the Los Angeles area (antelope valley - palmdale)

Thanks

Plus it would affect the seller's tax liability, raising his current taxable ordinary income, and lying about his capital gain.

Unless you know how to review the paperwork according to both federal and state law, you really need a good lending attorney in the state you're buying to review your purchase.

My fascination with REI began when I was 21 years old working for the Federal Government as a Correctional officer.

Ned,You are right, I've been looking at numbers until I couldn't think straight.My depreciation losses did in fact reduce my taxable income.

There is no real federal counterpart for each state to copy so the differences can be huge.