70K could in fact buy 3 properties free and clear that could produce 450-500/month each, (in my area at least) And with those purchases, hes gaining 30-35K in equity, each.

The finance rate will be between 1and 2% of what you are gaining from the CD.

We all have learned a valuable lesson from you sharing your experience with us.

Gain the skills you need and be methodical in your approach.Good luck.

The taxable gain on this sale (sale price minus book value) is $40,000.

That's awesome Kristy.Paying it forward may cost 10-50 bucks at a given moment but what it does for your soul is so much more valuable.

It is funny how you just do not get to keep ill begotten gains Please enjoy the Irony PS, they will not get a shot in the arm from retiree's http://www.bloomberg.com/apps/news?

They are losing trained staff not gaining it.3.

Does anyone have a good reference, website, or resource that goes over differnet taxes involved in renting or selling real estate?

A forensic loan audit is where an attorney carefully examines the homeowner's purchase or refinance loan documents for small screw ups that may have been made by the lender so as to gain leverage for obtaining a result, that being capitulation by the lender.