If I hear of an author, I check Amazon and see if I can get a used copy for .99.  

You are hereby notified that you must object in writing to this deduction from your security deposit within 15 days from the time you receive this notice or I will be authorized to deduct my claim from your security deposit.

A seller is looking at doing owner financing.I would be wrapping his note.Property insurance is not escrowed so that causes fewer issues.Sellers main concern is that we owner finance and in say 3 years I get tired and just give the property back to him.I am putting nothing down which he is fine with.Looking for thoughts and ways to make him feel comfortable with this issue.He owns other classes of assets besides apartments and is focused on them.I already own a bunch of other buildings in the area and told him I have staff on site so it wouldn't be an issue.This is for a quad building.Many investors buy with one thing in mind and then sell to you down the road for other reasons.Since I am a commercial broker I have multiple exit strategies already planned out for the property.

I hated that, no control, no physical asset, no fun.

Wouldn't it be advantageous for banks to send out their people to bid and win the tax lien auctions to protect their asset?

Well I could have gotten my own policy but then there is double the money and debt service involved which reduces margins.I was added as an additional insured because the insurance company employee said it would not cause any issues and then the insurance owner 4 weeks after closing gets all up in arms.The existing policy is much cheaper than the rates I found.The building is 30 years old and once it hits 30 other carriers told me unless it has new electrical,plumbing,roof,etc. they can't insurance it for the best rate anymore.Her in place policy was originally written 10 years ago when the building was only 20 years old.Kind of like an existing lender will do much more for you than a new lender where it has to meet their parameters.I asked about getting a policy for myself and adding her but the underlying mortgage would want her as primary so that wouldn't do anything.I am thinking I can make her part of the corp I have set up for that property with a non-controlling interest.The underlying lender could be told it was for estate planning and asset protection if any questions arose.The insurance company guy says that mortgage companies sometimes do periodic checks on title transfers to check for wrap deals but I think that is being a little paranoid.

If you are not taking in any rent you may consider this a second home and deduct mortgage interest and real estate taxes as if it was simply a second home.That would be why they cannot depreciate it.In some cases such as additional depreciation allowed on business(non-rental) assets you may take additional depreciation the first year.To summarize:They will not be able to depreciate it unless they are in a for profit activity.

And, for many people, its a form of forced savings that, assuming they don't keep moving and don't extract the cash with refi's or HELOCs, can result in owning a large asset later in life.

Jon has been an incredible asset to the community, and I hope you'll leave some appreciation for his efforts in keeping this place running smoothly.It is not an easy job that we have in keeping our community second to none, but I do believe that there is no other real estate community that comes close.

I read on Fannie Mae that to qualify you either need to be a big shot company with $5M in assets or a qualified investor ($200K/yr income for past two years or $1M net worth not including your primary residence).I may have read this wrong but it seems to me you cannot even find out the details of the program (such as the discount) until you are qualified and you cannot qualify unless you a rich.