The way I saw real estate at the time was, saving money, buying a multi family, live there with tenant who help pay for my house.

My wife and I invest in real estate, the stock market, and both have high paying W-2s and obviously file extensions every year on our taxes.

I pay off all my balances each month.

Tax Benefits While Building- Create an LLC and pay start up costs through the LLC (architect fees, permit fees, etc.).

In other words I'm sure that within a year he'll be at least matching this income and still be getting the severance.If a regular mortgage is out of the question I'm thinking of other options and would love to some the BP-folk advice.1.

You will then get to prorate the gain between the number of years you lived in it (tax free) and the years it was a rental (pay the tax).4.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

So, since the property ownership is a 50% split between the both of them, then whatever is the net profit after the sale is completed, only 50% of that should go towards paying the lien and the other 50% should go to the other seller.

Min buy in is 50k, pays quarterly distribution. timeline 5-7 yrs, getting very good loan from insurance co source at 6.75% or so with interest only on yrs 1-3 then no defeasance penalties thereafter if they re-fi or sell.

So it can be a bit tricky to do it this way, but ultimately, requiring that hold deposit will let you eliminate the risk of a tire kicker no showing on you when it comes to pay and you've already told everyone the house is rented.