And here is how this property is laid out; current tax assessment of land and building is 318k with a religious tax exemption.

You admitted having difficulty in assessing the aspects of state statutes, yet you can determine risk associated to members in a SLLC.....really....You mentioned leaving Joe high and dry, obviously you have nott seen a good partnership arrangement in an Operating Agreement, I have written many with interests and rights well defined.

I was in insurance as an agent before FDIC, as an agent you are exposed to RE, many agents provide mortgages, insure RE and assess exposures to risks in the field.

Fire protection codes were assessed around 1914 I believe when inspred by insurance companies.

Assessed value on the .19 lot is $898 so 3-5 should be PLEANTY.

Your lawyer is better prepared to answer these questions since s/he should have a copy of the governing documents and should be familiar with the Colorado condominium act.I will give you one tip - but again, this will involve consulting your attorney - ask your attorney if your governing documents and Colorado law allow you to levy a special assessment on one or more unit owners that should reimburse you for repairs and/or legal fees.

Ask yourself if the penalty for violating the rule (the immediate distribution of Your IRA and the assessment of penalties and taxes due) is worth risking for the benefit you will derive.

I'm curious to know if anyone has disputed the assessed value of a property such as this; and, what the outcome was.

Then it allowed adminstrative fees to be assessed from time to time arising out necessary admin activities required due to the tenant failing to abide by the agreement or acts required by the tenant.

When a seller says they have a $1,200 payment, immediately you know your risk is that amount and you need to assess two things 1. can I cover that amount and 2.