I also think I have a partner for this deal should we be able to work something out (someone I met off of BP as a matter of fact...think we'd be a good fit for the deal)Anyways the owners main goal is to use his properties as a retirement vehicle and get mailbox money - - he is talking about structuring the deal where he gets a stream of payments over 30 years or so or at least have it structured that way - that aside, his main concern is taxes.One thing we had talked about his possibly starting a partnership where we could come on as partners, then over time as he gets his payment/annuity payments if you will and his ownership interest is bought out over time, then as time progresses we'd be "earning" larger ownership stakes where his would go down to zero.Would there be any advantage from the buy side on this?  

We have 2 vehicle loans and a house payment with $30,000 in cash.

@Sandy Sawyer A Solo 401k Plan is a powerful vehicle that can be used by those that have self-employment income and no full time employees.

I would then consider this situation similar to a broken down vehicle on the side of the road.

My wife and I took a two day class together before we were married, and she went from thinking that real estate was a lot of work and problems to seeing that it was the most efficient vehicle to build wealth.

It's often difficult to discern those owned by active investors in THT's from simple estate planning vehicles.

i wonder if you couldn't treat it like a towed vehicle....let them know it will be a $30 daily charge for storage of their belongings.or ask a lawyer.or i'm sure the answer is here in legal speak http://www.statutes.legis.state.tx.us/

No I'm not big on education since I have a unique learning curve that in the past has frustrated many employers, and educators alike I have been to different events over time about real estate my uncle advice (who have been in real estate for years) "give up" but I'm not a very good listener I not only ignored the warning I literally opened an investment company I am just utterly determined to succeed but with 18,000 a year and 23,000 in debt I not want to but I must end this spinning rat wheel of living pay check to paycheck recently I was rear ended in a motor vehicle accidentThat almost took my life (thank God I walked away with my life) Now it resulted in lost wages now completely but greatly reduced And I'm still optimistic about it I had even been taunted by credit counselor saying (how can you buy real estate and your in major debt your credit score is garbage your wages are garbage you don't have enough experience in any one area to specialize in anything where are you gonna get money from?)

I created a spread sheet where I can rank people based on their applications and also on their behavior when I met them to show them the apartment- things like did they show up on time, was their vehicle (if they drove) reasonably clean, their need to be in the area (proximity to work, college student) etc. 

I have to choose this route because I currently don't have a vehicle or a job. does anyone here use freedomsoft, will it make this process easier for me?