From a gray area standpoint, it's as bad as going 5 over the speed limit, or as bad as accepting that burned DVD copy from your buddy.

To offset that consumption the rest of the property should create revenues to pay for that consumption and ideally provide a profit to the owner occupant after expenses.If you've never read the wealth of nations its pretty awesome stuff but, its NOT light reading and is in ye olde English as it was written in the 1776 :-D~http://www2.hn.psu.edu/faculty/jmanis/adam-smith/wealth-nations.pdf

In any particular year for any particular property your actual results can be somewhat better (taxes and insurances are the bare minimum) or can be much worse (no upper limit.)

We did this so that if there is an accident or something happens at our rental, our liability is limited. ...I encourage you to seek out a competent attorney because if you and/or your wife manage that property, you don't have the protection you think you have and you need to make sure you carry adequate liability insurance.

I was wondering if someone could shed some light on this topic for me.Ive noticed that someone has put a property in the name of a trustee during the course of a bankruptcy.

Limited liability is the most critical one.

The Sky's the Limit - Passion and Property in Manhattan - Steven Gaines

Your transcript from a good university in graduate level courses (many offer CRE) can be seen in the same light as any education course offered by any real estate association.

Went into the basement with a phone for light source and as I was walking down the steps, I took what I thought was the final step and ended up in about 2 feet of water.

In order to be an eligible borrower under FHA you need to be Legal Age (18 or older) or married.There are also maximum allowable loan limits that are set by individual counties.