Even if you flip houses its important to be able to write off business expenses, all though you can do it on your own, a corporation has more legal rights to write a lot of other things that individuals can't, its that plain and simple.While a corporation has over 600 plus tax write off as of the summer of 2002, the individual person has maybe at best 6 tax deductions.

Upstairs apt section 8. perfect tenant but I cant raise the rent, sec8 only pays so much. legal bsmt apt, nice lady but mostly unenployed.

I would like to know what steps I should take to find out if this is a good deal and how do I protect myself from any legal, environmental or structural issues. eg. - what type of inspection would disclose any underground problematic conditions.?

Other - legal issues for contracts.Most of us in residential have a contract that we've gotten from a lawyer or a friend, but at the very least we can get nice pre-printed contracts from office depot.

These include management, maintenance, vacancies, taxes, insurance, advertising, utilities paid by owner, entity maintenance, evictions, legal fees, court costs, excessive damage done by the tenants, lawsuits, etc, etc, etc.

Unless you own some land that they want to rent, it's probably pretty tough for you to get a superior return when dealing with those big boys.I think if you were to "google" the words billboard and Houston you might find some pretty good background on how one of those outfits was continually hosing a landowner in Houston and the ongoing (for about 8 years) legal battle he had with them.all cash

Also, they have over charged on legal fees to do evictions, they have "forgot" to collect the additional rent when it increased, supposedly for 3-4 months, then suddenly found the additional rent they had collected when I was ready to file a complaint.

Most likely there is a legal minimum for your state and this will be the opening bid for the property.

Do we need a lawyers to look at our lease agreement, and are there other legal issues to be aware of?

An essential element of Abandoned in the legal sense is that the owner has either expressly (orally or in writing), or implicitly relinquished his rights to the property.