We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference.

If you do decide to go that route have a zero-tolerance policy and conduct regular inspections.

You can accomplish this two ways: (1) by forming the LLC in the state where the property is; OR (2) qualifying a foreign LLC (from another state, preferably an LLC friendly one) to conduct business in the state where the property is located.

Also try and join your local PIA (Property Investors Association) they form a network of 20 associations around the country that are part of the National Property Investors Federation (which just had its annual conference in Auckland).

thanks jeffrey If the auction is conducted privately, you usually have 30 days (the time frame is disclosed in the public notice) to line up the balance of what is owed.

But I have to decide how to conduct business using that money that is sitting in his bank account here in the us. 1) Should I just transfer the money to my personal account and buy the homes in my name or LLC?

hi @Willie Marquez When and where are the meet up's conducted.

We had a conference call about a month ago and I explained my situation:  10 units, would like something easy to use, yet scalable for future growth, not too expensive, cloud-based, mainly for tracking money and not for things like service requests, and able to integrate with a payment processing system once I pull the trigger on that.   

Your LLC probably doesn't list in it's business to be conducted that tax advice will be given, so in essence you are acting outside the purpose of your company and therefore may be persoanally liable.

I bought it at the Ohio REIA conference and literally within 3 days of the conference being over, I bought 2 notes that were in the foreclosure process from a local bank.