Now - safety in a transaction such as this is the equity position.

I don't have first-hand knowledge but see http://www.biggerpockets.com/forums/92/topics/73036-harbour-portfolio-lp for more on Harbour Portfolio.I'd talk to a title agency to get some clarification on the tax status and ownership of the property.

I as well note the disadvantages of all cash but for this particular situation it made sense.Anyway, I am really excited about this deal and I know emotions should never be present in real estate investment but I can't seem to not be anxious to start.I'd like to send out a huge thank you to you guys because this is a wonderful community full of really great knowledge.

Thanks for sharing your knowledge

You've definitely come to the right place to further develop your REI knowledge.

I am looking for knowledge, to meet people, to find people who want to collaborate with me in this business, to find buyers and sellers.Since I don't have any experience, I don't have anything to offer right now, but with experience I will be able to pay it forward.

I'm here to network and build relationships with like minded and knowledgeable experience individuals.

Therefore I learned from my employers and have thr finacial knowledge.

Somewhere in the world someone richer than he and more knowledgeable from their experience could teach him how he could of approached that differently.

You seem highly knowledgable Ned.