After meeting with my CPA today, and going through a number of back posts from the BP forums, I'm interested in hearing more about how the IRS oversees the balance between S-Corporation compensation versus flow-through shareholder income.Perusing the IRS information, they state:The instructions to the Form 1120S, U.S.

FL properties are especially difficult because of how high the property taxes and insurance expenses are.

After thought: Realizing that my income and ability to pay off mortgages increases as each home reaches a zero balance.

There are a number of groups in our area, I recommend the New England REIA for a conventional REIA and invite you to attend our free Black Diamond networking group in Waltham, see url in my signature.It is harder when you don't have cash, you will find many gurus who tell you that you don't need money to get started, but regardless of what they say, at the very least it is more difficult.

The owners were losing this property and a couple of other ones.I ran the comps and realized the other ocean front condos were still selling for at top price but this one the owner was willing to let go for his balance owed, almost .50 on the dollar.

Bill Gulley I find it difficult to find your links re your post!

It's more difficult to remodel an occupied property.

Based on the following, $30k note(balance) with 8% on a 10 year note.

Let's say you can find a lender to do 90% CLTV (might be possible with owner occupied).0.9 x 270K = 243KSo 243K is the total loan balance you would be permitted; subtract the principal balance of your primary loan from that 243K and you'll get your potential equity amount.Don't know about seasoning ...

You might mention that and see if they agree that the par value or balance owing will be the value, that can be added to the note.