I have had some similar events with Receivers not BK Trustee.

The owner is at risk for workmen's comp matters as well as you in supervising work.In Missouri as well as other states, an installment sale is more acceptable as far as holding an ownership interest, building permits are easily obtained as you can call yourself "an owner", you have an insurable interest for policies, material suppliers recognize your authority to encumber title with respect to liens in the event they aren't paid, the seller is released of liabilities as you will be considered the owner.

Since LLC-1 is not the owner of the replacement property purchased with the exchange proceeds from the sale of the relinquished property, it would appear that the entire exchange has failed and LLC-1's sale of the relinquished property is a fully taxable event.

Besides the monthly income, additional reserves would allow you and people who do the same type of business to make it through a general economic event, or a local event such as a major factory closure.

That kitchen ceiling is moldy-awesome.Be sure you invite the neighbors over for a "sneak preview" - get some food & drinks & make a nice open house event.

Real estate is a hard asset where they are only making so much land.With real estate you get the 4 pillars or return.( depreciation, cash flow (hopefully) , appreciation (hopefully), and principal pay down ( if you have a loan and are not paying all cash ).Your tax equivalent yield can rise in the double digits on return.

I now consider this series of events to mark a defining period in my life.My employment background has always revolved around customer relations.

Besides doing that on here make sure to get out to some of the many local investor events we have.

and I haven't planned next months event but we do post it once its set up.Most of us here will help if we can.

Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!