After fees and commissions he would net about $200K to pay off the mortgage at a standard sale.

Paul,In Colorado, a REAL PROPERTY TRANSFER DECLARATION - (TD-1000) is required by law to be filed with the county assessor where the property is located.

Use a standard as-is agreement between you and the seller.

Hi Karen,Perhaps you could look at this article and give me your opinion of a Lease w Option VS Lease and Contract for Option,http://www.biggerpockets.com/blogs/3/blog_posts/26565-a-contract-for-option-is-better-than-a-lease-optionA Contract for Option was devised to not give an option until a contract was satisfied, like a contract for deed.Here is the contracthttp://www.biggerpockets.com/files/user/REISkills/file/contract-for-option-to-purchaseWith a one year lease and possible extensions, it is a tool that I believe that that will assist a NC landlord/investor.

After you close the deal and pay the necessary transfer tax, what tax implications will you have when you file your personal income return if you do not plan on collecting rent?!

You also need to file all of your FORM D's.

Its up to the tax payer (the IRA, in this case), to file their tax return and pay taxes.

Bob Diamond has had recent foreclosures, nonpayment of taxes, and filed bankruptcy. http://www.attorneyBobDiamond.com

.- The SEC will likely have some sort of guidance on that in the near future, but what has been recommended to me by attorneys previously is the following:- Get federal tax returns for the past two years and keep them on file if you can.- Get financial statements that would illustrate proper net worth and/or income.- Create a checklist of questions that would help qualify the investor and have them sign the form.- Have the investor's CPA or lawyer write a letter attesting to the fact that they are accredited.Obviously the tax returns are the best route to go.

What type of equity (profit sharing) partnership is considered normal standard in our industry?