So, I figured I was too smart to go to continue my formal education.

A FORMAL partnership is best.

Is there anything we have to do to formally "realize" these losses on the bad debt for 2103.

So what I am wondering is if a Judicial foreclosure happens and lets say the house is worth $200k.

Investing your personal money along with your 401k is a different matter...Assumptions;You have the financial ability to acquire a given property but your goal is also to increase the value of your 401k.You invest x% in a property and your 401k invests x% and this is formalized via the Tenants in Common legal agreement in your 401k.If financing via a seller carry back note is necessary then there would be two separate notes.

They get no formal training in law school and there is not enough money in it to motivate them to learn.

It formalizes and documents the moment a tenant officially returns to us possession of our unit, including handing over the keys and what will happen with any personal belongings left behind.

Here, there is a "default" lease contained within the legislation which comes into effect in situations where a formal written lease is not executed.  

Since NC is a non-judicial foreclosure state and FL is a judicial foreclosure state, could this account for the differences of opinion?

Eveland, In re Soulisak, and a number of others that are popping up on my fast case.I'm not trying to be mean, I am trying to offer thoughtful advice as legally and judiciously as possible.