And that is fine, I believe we both should learn, but with time against us, and without us making this kind of money back in the states, I am sure the banks will not be so favorable.

That means I've double dipped, and in the end the numbers should work a little more in my favor because of it.When I bought my first property, I wasn't thinking of an investment.

Utilizing both a trust and a LLC creates the best combination of liability protection and favorable estate planning.

It will be define in a court of law, no doubt in favor of the TD investor.

And this guy may have some valid and accurate ideas on how to improve on that process.But when it comes to #2, I don't know any appraiser who is going to throw the existing methodology out the window in favor of something created by some random guy, regardless of whether the methodology makes sense or not.

The situation is very favorable even if it ends up going to foreclosure again--we just need to understand the whole process and expenses involved.

I did it as a favor, plus I liked it.

I'd probably try to work the numbers a little more in my favor. $45k in rehab is a lot of work being done.

Call me sometime and we can talk.The thing about renting in NYC is that when one encounters a bad tenant who chooses not to pay rent the courts seem to favor the tenants and not the landlords.Not to say that you should not have a multi family home in the city but its just something to think about and perform your due diligence on.Maybe some NYC'ers on BP can comment on the benefits of renting owner occupied units in NY City.

I HOPE I CAN RECIPROCATE THE FAVOR SOME HOW?