I would love to hear any other legal advice they can take up as this guy needs to be stopped.It frustrates me personally because there are good people in Detroit and fantastic opportunities here.

I graduated in 2007 from The Wharton School where I concentrated in Real Estate and Legal Studies.

A percentage of your tax liens will have to go to foreclosure and then you get into legal costs (if the state uses judicial foreclosure) and other delinquent taxes.

Nothing man does is perfect but I know, at least for the men that served with my friend, the desire of those service men was indeed to offer freedom and the chance to live a life not restricted by fear.

According to the IRS, the home mortgage interest deduction taken on Schedule A can only be taken by an individual who (1) is legally liable for the loan, and, (2) actually makes the payments.The situation you describe in your example suggests that neither brother is able to take the home mortgage interest deduction.

Nathan, don't confuse anything you see here with legal advice.

I'm a new investor and just want to make sure I handle our partnership legally and protect myself as much as possible if things go south.

Nevertheless, make your offer based on actual rents.In addition to the items you mention, you'll need to account for vacancies, management expenses, advertising, utilities in vacant units, evictions, legal fees, tenant damage, make ready costs between tenants, etc...

Dealer financing is definitely an option, although your credit score may restrict your brother from receiving a low(er) rate.

Can anyone clarify any of this - whether it's legal, what kind of negotiations have to happen between the seller and the middle man/investor, and what forms you would need?