That, among the charges directly attributable to the property (appraisals, points, interest, etc, etc) created a big loss for that first year.

It will protect against claims/loss made due to your contractors (or you) making a mistake or being negligent resulting in someone else's property damage or bodily injury to someone else.

One costed me over 40k in losses.

Get a real estate attorney to write up a contract/partnership agreement between the two of you protecting you from any possible losses so you can sleep easy at night.

Point is the past gain or loss means nothing its the fundamentals of the market they are in that matters.All in in all I think if someone really does not want to learn about any details one has to learn that takes time (how much to put in for R&M in a property, how to buy a property correctly, how to fund ppl you can trust in your RE network, etc.), wants income and is really comfortable analyzing the market trends to pick a REIT (office market, storage market, commercial residential market, etc.) than a REIT can be a good investment.

Dementia is a term loosely used that is tossed around a lot - memory loss with the natural aging process vs.

At that volume, you can afford to take a complete loss here and there, can't you?

obviously we avoid code violations in investment properties, but Paul's approach seems to be to actually purchase code violation records AS LEADS to owners more likely to sell at some loss!

Everyone needs to understand that there are enough laws out there to nail anyone if the powers to be want you nailed, there really isn't some unique law or regulation that will be avoided the same way for multiple operators, your case will always be different.Walking a thin line is a risk assessment, the parties involved, the intent of the parties, their financial position,  and experience, what is customary in your area, political views and opinions of your local courts, the degree of a violation, the public harm at risk, if any losses were suffered and other implications of you following some loophole.

The LLC is a disregarded entity, and all of the income and loss are treated as though directly attributed to the individual.I don't see how debt forgiveness is going to play a role here.