Your client would need to trade equal or up in value based on the $130,000 value.

Par - your capital investment is equal to the amount of principal owed on a loan.

We wanted to partner with another investor from another state (Marty Boardman) and decided to find a "neutral" location that was about equal travel time for each of us;3.

IRS taxes you on the gain on a property when you sale (sales price minus basis equals gain).

Members will adhere to the laws regarding The Fair Housing Act, Equal Credit Opportunity Act, S.A.F.E.

My belief, however, is that if someone is looking for one, and only needs to find one every year or two, anywhere in the US, that should be feasible.

@Bill GulleyOhio has a land contract law on the books: If you are a seller on land contract, you can EVICT under certain circumstances if the buyer does not pay (less than 5 years, less than 20% paid into the contract)5313.07 Proceeding for foreclosure and judicial sale.If the vendee of a land installment contract has paid in accordance with the terms of the contract for a period of five years or more from the date of the first payment or has paid toward the purchase price a total sum equal to or in excess of twenty per cent thereof, the vendor may recover possession of his property only by use of a proceeding for foreclosure and judicial sale of the foreclosed property as provided in section 2323.07 of the Revised Code.

The organizer/member would define the initial splits of profits, losses, and capital for each member (they don't have to be equal) and the numbers can change as you or your partner contribute (time, money, management expertise, etc.) into the LLC.

I'm not promoting this site but I read this recently and it made me think a little more about my business and my personal life.http://www.inc.com/jeff-haden/9-beliefs-of-remarkably-successful-people.html

If the cost to build was exactly equal all over the country, the discrepancy would still remain do to the values of the dirt.I believe that we will have the run up in prices over the next few years and when the charts show the bubble can no longer be sustained, it will be time to jump ship.