If you are going to be working with investors fronting up $500K, partnering with a rehabber, and starting a property management company, then you will want to consume yourself with the education process.

Humans have been at war over control, power, and money since the beginning of time, and the only thing that has changed over the years is the methods that are used.While I follow all of this stuff, I do not let it consume me.

It seems like forever ago that I posted this and have bought and sold several homes since then.

You might also try your local title company...free searches would include trust deeds which will show junior liens..but judgments and mechanics liens will only be found via a more detailed and time consuming title report...which is usually pulled once a transaction is opened.

Very time consuming to do though.

In between, it phases out, $1 gets phased out for ever $2 of AGI over $100K.Its possible to take MORE passive losses than the $25K special allowance if one of you is a "real estate professional".

Of course, these same guys also say:"We expect prices to decline further through 2009 as consumers remain wary of taking on housing debt in these uncertain economic conditions....and"What is most worrisome about these sharp declines, and the general economic deterioration as 2008 ended, is that there is no sign of a bottom yet."

Needless to say I am happy I didn't spend the $10,000 (which by the way this price was not negotiable and was a stellar deal and wouldn't last forever....tip 1 of a rip off).

The Bankers responsible for this mess are removed from Banking forever. 2.

Increasing your open rate and click-through rate will yield better results and consume less resources.