I THOUGHT THAT IT WAS SOME SPECIAL WAY TO DO IT LOL.

Good Morning Everyone,I'm Scott from Orlando and I am a Realtor who is new to this forum.I specialize in Short Sales and in Orlando we have many.My goals are to lend a hand to my fellow Realtor and in return be the recipient of that help.I am recently married and my wife and I live with my two teenagersin the metro area.

If it goes vacant all of 2009, though, be prepared for an audit, because if you can't rent it for 18 months, then you're not trying and it looks like tax evasion.#1 piece of advice is to drop your rent rates immediately.

.- Buying apartments means you'll need fewer loans, but unless you are really prepared, you probably don't want to make that leap without cash or experience.

It may sound a little like over preparing and maybe the bank even thought it was kind of "cute" but I learned A LOT writing my plan down and making it make sense.

Like a 35% tax bracket but somehow still able to qualify for the $25K special allowance for passive losses.

We are prepared to keep the property as a long term investment, or simply hold for a few years and cash out.

The same is true for city and county property taxes supplemental taxes and any special tax assessments.

I also really like your idea about reading books on past crises to prepare.I'm going to create a topic entitled "What Are You Reading to Prepare for the Worst' and hope you will contribute some titles.Thanks - Mark

Plus, it's really helpful when you're working a shortsale as the buyer and have the BPO prepared for the agent when he comes to the property!