Bogus.The Tax Court correctly ruled that transactions were bogus, that it constituted excess contributions to the Roth, and imposed a tax of about $40,000.The Court’s reasoning is very important to REI.

If I'm reading the rules correctly, under 10,000 square feet, RH lots are limited to 1 unit/2,000 with maximum building coverage of 85%.

@Christopher Golden160k for 2 units that are 3bed/2ba correct?

I'm working on correcting those decisions; however, I wanted to know if it's best to focus on clearing all that up first before I try to start investing?

Randy, that’s what I’m thinking as now, if I’m understanding correctly, the past rent is a part of their bankruptcy and they only have to pay future rent.

I've searched the forums and it looks like we need help from a hard money lender that is familiar with these types of forms and help from our title company - is this correct? 

(no, I am not a lawyer -  just an experienced HOA manager) @Phil Glantz is correct - if you buy in a covenant protected community then be prepared to follow the rules as written.

Though I do still need to talk to my agent about resale value, to make sure my numbers are correct. 

Once you think the numbers work then start calling people that are running ads and one conversation Should lead to another and hopefully you'll find enough reasons to fly out and meet some new contacts.Account Closed is correct there's a broad spectrum of deals to buy from a total gut job to a full on turn key program.I'd definitely stay away from fix and flips in the beginning and look at light rental grade rehabbs to full on turn key.The most important aspect of out of state rentals is the property manager, for this reason I finally decided to partner with a management company in Michigan to help protect mine and my clients assets.Ohio, Michigan and Missouri are still under valued and offering good returns.The detailed kind of information you're after is more of a phone or sit down conversation.

If you want to do long term, then you need to ditch the rehab costs initially and plan on coming up with those through another financing methods or cash, once you own the property.