With respect to mortgages, the topic usually ends up wondering about violations of the "due on sale" clause in mortgages.If you need a loan to purchase, then your lender will require title insurance, and that lender will probably not be happy to have those other liens in place in a superior position (with respect to foreclosure).

Thats a tricky position for you Mark.I understand your cousin is not your friend yet and if he dont sell his half you cannot sell the complete duplex thats clear.I checked with the county and yes there be two deeds, one in your name and one in W... name but I saw also the taxes of $2... per year is for the entire house.

Every 4 weeks the facilitator (this position rotates among the group) sends email asking for goals to be submitted by a certain date.

No, we don't want to live in California forever, but we're not ready to move either.We were actually considering your town once, because my husband's employer was expanding there, but the community manager position was snatched up quickly.

We have no other debt.My question is whether it makes more sense from a financial point of view to pay down either of the houses or whether we should look into buying a property that does have a positive cash flow (there seem to be quite a few available in the Reno area) and use the left over equity from our Reno property to do so.I don't like the idea that we are stuck with the Las Vegas property at this point and would logically conclude that paying down that property until we have a situation where the equity is at least zero is the first priority.

Better to understand what will really happen than to assume "cash flow = rent - PITI (and HOA)" and get yourself in a bind.I fully agree that buying some break even or slightly cash flow positive properties for long term holds is a viable strategy.

You have multi-year landlord experience, so assuming you have documented positive cash flow on the property, that would be a possibility.

But for death... would it be acceptable for me to execute a notarized document between us like a "Designation of Successor Shareholder" wherein I declare that in the event of my death that she is deemed the Successor Shareholder of 100% of my SCorp's stock and entitled to all rights and privileges that such a position entails?

Work with her, but be firm in your position.

In her position there is absolutely no way I woudl sign a quit claim.