It will be interesting to see how it plays out.I told my friend that given it took 2 years to get her out when that eviction happened I would have taken much more measures than securing a standard eviction.

Because of this, he stated that they would never get approved because the qualifications are much more stringent than FHA and the like.

However, I wouldn't take action or take drastic measures based on a post in a forum.

I used to be part of an S-corp in a previous business (primarily because LLCs either weren't around or not popular back then) and when setting up both my current 'day job' business and my buy and hold real estate partnership, my accountant favored the LLC over the S-corp.I think his main reasoning was the increased paperwork, more stringent requirements, and inflexibility of equity or profit splits in the S-corp.I think, but an not sure, what you will hear from others is to form a different Joint Venture for each property of each 'partnership' you form that could own more than one property.Dan Dietz

Here are a good book on financial measures:http://www.amazon.com/Every-Estate-Investor-Financial-Measures/dp/0071603271/ref=tmm_pap_title_0?

The only skills needed is basic measuring.

I use the 50 % rule to evaluate properties than apply the most realistic measure I can for taxes, insurance, maintenance and vacancy.

A lesson from last mortgage crisis taught us that even when we believe we have perfected the quantitative measure of intent of a borrower, we can be be proven grossly wrong.

We also provide tape measures, pencils, and clipboards so folks can make notes and measure to see if their favourite green chesterfield will fit in the living room.

It's not measured on how many payments they are behind if any, but more along the lines if they can afford their home any longer.