I look forward to becoming an active member of the community.Scottish007

BTW, unemployment numbers doesn't account for undocument/illegal aliens that are out of work.

my state and the surrounding states have passed legislation that outlaws certain activities as it relates to foreclosure. a national "guru" may or may not be familiar with how to maneuver around such obstacles.

Good Morning Everyone,I am an active real estate agent from Detroit, Michigan.

I have been an active real estate broker specializing in commercial properties for 10 years.I have invested in a few smaller properties, but want to step it up and get involved with larger properties.

Can anyone tell me if they have heard of this before and if it is illegal or not????

The LLC should be used for rental property and if the property is held for the primary purpose of renting, then it would be rental activity income and subject to depreciation rules and capital gain upon sale whether it is short or long term.First we need to know who the owners of each entity are and I will guess that you are the owner of both entities.With that being said, the S-corp will make a property distribution to you and then you will make a contribution of the property to the LLC.The entry will be a credit for the asset, debit for the mortgage associated with the asset and a debit to the capital account to show the distribution.

I don't think that any part of being a bird dog is illegal if you think of it and act in this manner.You are looking for good deals and passing those good deals along to the actual person who is going to purchase the property.

For housing rehabilitation activities that do not also require buying or refinancing the property, borrowers may also consider HUD's Title I Home Improvement Loan program.

Before any one claims that the Amish carpenters are the best, keep in mind I worked for 2 different Amish construction companies for well over a 6 year period and they are our version of the illegal Mexicans in the workforce.