What  are the implications to me legally if I rent out to a person that has filed bankruptcy? 

Furthermore, I have actively been researching and there is an ongoing housing shortage in the New Haven area, a consistent population growth, great property price to rent ratio, some new construction projects in the nearby area of the property and that it takes a certain type of person with great patience and “people” skills to succeed in these type of neighborhoods.

Which portion of the tax code do they reference / how are they interpreting it?

I personally invest here for both the cash flow and appreciation.

If you want a "reasonably" fast way to straighten that out, you have to "connect" by clicking the name of the person you wish to speak to.

And it depends on the person, but yeah, most will be over 10% these days. 

Pick one or two and then come back and reference them on here. 

She might be referring to transactions that don't reach the closing table due to the buyers' fault, and then they would refer someone they trust to close.

Regarding taxes, I believe LLCs are pass-through entities, and you will just claim the income on your personal tax returns.

@Quiche LynnI think your confusing the term noteThe note is a promissory note - meaning the document that she signed stating she will pay this person this much money.What it sounds like is she wants to send a settlement offer to try and renegotiate the deal?