Example: Owner owes $50,000 and you agree to purchase the house for $62,000.

I really didn't take his flame as picking a fight, just as an example of venting after having jumped into something he was not prepared for, where failure comes at quite a price.Shoulda-coulda-woulda come here first, had he known better!

In other words, will I still be able to deduct for example my interest paid on the Loan from my personal tax return by doing this?

Maybe also ask for some examples that the attorney has done as proof...

You never know when you will do something wrong for real and need to be made a public example of.

We made fresh cookies on site, put balloons out front, had signs posted for over a week, and ran a large classified ad.

One expense I was wrong about was food expense.Since rental property is a business, I thought I could write off my food expense, for example, taking a lunch or dinner break from working on my rental property.

For example, have it go to a particular number Monday through Friday, and a different one on the weekends.

The payment is simply the monthly interest rate (1%, 1.25% or 1.5% in the above examples) times the loan amount.I usually just slap a deal specific spreadsheet together.

I'm looking to move soon as my girlfriend is graduating next month and were trying to get a fresh start in the Thousand Oaks/Orange County area of California.