I am not far from getting my real estate license.

If garage opener was not working correctly that would be a different story.You did your part by making sure Garage Opener is functioning Properly..

Hello David, I would get my real estate license as a purchase deal you could get 2.5% of the sale possibly.

Lender can just make a claim against itself or with the "doc prep company's" E&O when the instruments don't properly secure an interest in real property or otherwise fail to protect the lender when things go sideways.

I checked the permits on the building and have not seen any pertinent to the conversion, so I am assuming it was not done legally or potentially up to code and certainly not with proper zoning approval.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

Thanks a lot Jeffrey.Property Details: 2629 sqft, 4 bed, 2.5 bath on about .45 acres built in 1985 (sun room addition not counted as it was done w/o a license. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

I am working on getting my Realtors license and I should have it in less than a month. i just want to know how obtaining your license affected your Real Estate Investing career.

I am a practicing licensed broker with a decent size business (LLC #1), however this rental property is within (LLC #2) which has a couple other rentals in it as well...so when you say "real estate professional" I am a little unclear if my "day job" as a broker would give me this title since this property pertains to LLC #2 and is my "rental job" which is passive income, not active.We've rented the property for 2 years as originally intended, but do the fire and renovations, plus the market being higher than I ever anticipated in this area, I want to get out what I can and roll the money into a better location via a 1031 tax exchange.Thanks again for all your input!!