(Modern Real Estate Practice)So an IRS lien will not always win over others, but I believe Wayne is right in this case  - the buyer's IRS lien will be superior to the mortgage lien - not because it's the IRS per se, but because the filing date of the IRS action preceded the creation of the mortgage lien.

What are some common practices between 50/50 partners where one side is the money and one side is hands on. 

Nice and practical high value rental units always suffer less in a crash.

It is pretty common for diesel truck guys to run heating fuel in their trucks, though that practice is illegal, so I would offer it to a farmer for his tractor, or to another heating oil user for a few cents off current market price per gallon. 

{You can no longer charge "pet rent" or deposits}]The best business practice is to document an application and selection process for prospective tenants, that is within the confines of the law, and to apply it uniformly to all applicants.

It is not cost effective or practical to use a home warranty on a rental property.Our Broker will not use any existing Home Warranty Company for "first responder" service calls to the property, under any circumstance.

Back when I practiced law my job was to evaluate insurance policies and to figure out ways to weasel out of having to pay the claim.

It's good practice to have different operating accounts for all your properties, but if you reach critical mass in terms of rentals, you can gain significant benefit from temporarily pooling all rents into a central sweep account.

It is nice to have all the documents and some guidelines, but your best bet is practice.

Any answers as to the legality of this practice would be great.