It's really just about choice.

When people see what I put into it, they are amazed at what it takes and the time it takes away from my main endeavors.Think long and hard before you commit yourself to starting a group.

But, for folks that are looking at being $200K, $300K or more in the hole on a property which will never again in our lifetimes be worth what it was at the peak, what choice do they have but to walk away?

The homeowner can choose not to include the house in the BK and sell it short in some cases but I don't believe the bank has a choice in the matter.

I found a way, but we would have to sign personal garauntees, which helps with the issues related to having 3 partners in a deal, but doesnt limit our liablity, which is my main objective.

(PS - Czech by birth; Hungarian by marriage and divorced by choice) :)Although I respect both your opinion and that of my dad, I do disagree to an extent.

It has gotten me the best response so far.It is something like Dear Sam, I am interested in buying your home at 1234 main street.....etc.I have mailed that letter for the last 3 years.

The main goal of the bailout was to loosen up credit.

This isn't to say that a duplex or triplex is a bad choice, they just have different characteristics than a single family home.As for the 1031 Exchange, you should learn it inside and out, and don't get confused, you aren't avoiding gains, you're deferring them. :)

i was in the mortage business for a several years and mainly involved with purchases.