In your shoes I'd take a hard look at knocking down the leverage preferably through shedding more than a couple of them.Oh, and as for your friend, go to a BK attorney .I can tell you what the BK attorney will say, it's a deriviative of the old saying; "when your only tool is a hammer, everything looks like a nail".Toss your buddy overboard, save yourself.all cash

They pretty much say they don't feel comfortable with their name on a title that does not have insurance.

It's a matter of doing what you're comfortable with and also a matter of what type of strategy you prefer.Read the different forums, ask questions of the other members, and you'll find your niche.Ed

So thank you for the holding formula is makes me feel VERY comfortable.

There were over 3,000 pairs of shoes, 3,000 purses, endless piles of stuffed animals, lots of craft items and on and on.

IIRC a "white shoe attorney" acquaintance of mine told me their usual (on the legal part) fee for handling a trustee's sale is closer to $5K, and the borrower is generally 5+ month behind before they even receive the paperwork!

I finally signed up today in the hopes of gaining as much knowledge as I can.Brief summary of my reason for doing so:My family owns several commercial properties through an LLC, which was started by my father who has since passed on.We have a good amount of equity in our commercial buildings and are looking to expand into residential housing, though which avenue we are going to pursue is still undecided.I currently do not have enough knowledge or experience in the REI field to feel comfortable leveraging our commercial RE assets on residential properties.There's more to it than that, but I don't want my first post to be a novel.

If you feel comfortable with the payments on a deal, like the house, feel prices are about bottemed out or will not drop much beyond what you paid, are not planning to move soon, then go for it.

I don't feel comfortable allowing the tenant to do this, so I figured I would ask what the standard pratice is.

At least until the LLC owns enough assets that the bank feels comfortable that it can get it's money back just by going after the LLC should it need to foreclose on a property.