On top of that are federal laws.

Seek broad education in real estate, business, tax law, government laws (federal, state, county, city), finance laws, real estate law and practices, and as much as you can think of that may or may not directly apply.Education Sources-Small Business Administration (SBA) (not just for loans)This is a taxpayer-funded organization just waiting to give you guidance and education.

Where it gets more complicated is looking at income and expenses, to calculate net profit as taxable income for Uncle Sam.

Real estate might still be the least-worst thing to be invested in right now.There's also the very real possibility of higher inflation - the Federal Reserve is actively targeting higher inflation so as to make the huge amount of both government debt and household debt out there more manageable.

An attorney will assure you are abiding by the federal and state laws and so are those with whom you are dealing.

The federal securities laws define the term accredited investor in Rule 501 of Regulation D as:a bank, insurance company, registered investment company, business development company, or small business investment company;an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;a charitable organization, corporation, or partnership with assets exceeding $5 million;a director, executive officer, or general partner of the company selling the securities;a business in which all the equity owners are accredited investors;a natural person who has individual net worth, or joint net worth with the person

Three things you need to be aware of are: 1) the redemption period; 2) how to terminate a contract for deed; and 3) the proper construction for the legal agreements to comply with federal and the state laws where the property is located.Seeking advice from an attorney in the area where the property is located can be a wise and very economical decision considering the alternative.

The lawyer will be able to provide you with legal options for your consideration that are based on local, state, and federal laws.

There are federal laws to know and state laws you must know.

Yes, in Massachusetts you'll be inheriting lead problems if you buy this property without lead certs.Mandatory blue lead form is Federal and covers all states.I'd hire a licensed lead inspector for the whole building and use their report to renegotiate if needed.