In a nutshell, he was just amazed (dumbfounded) in how there could be such poverty in America.

While meetings may not be specifically required by law for an LLC, an LLC is a corporate entity and meetings are required for corporations.

For example being a landlord does not necessarily involved work every day such as what you do at a 9-5 job.One of the reasons capital losses are limited to the amount you can deduct is because those are a specific type of passive loss.Passive losses from business activities such as real estate investments or investments in partnerships or corporations can be limited based upon the the amount invested, your income level and your participation.

America and making someone wealthy instead of myself and others around me.

Here's what I selected:Geography - The 3 counties I'll be operating withinProperty - Equity% - From 100 to 100Property - Last market sale date - Last 3 monthsProperty - Property type - Residential: SFROptions - Absentee owned - In-state onlyOptions - Corporate owned property - No preference

Things are tightening up on inventory EVERYWHERE (banks holding back inventory and corporations buying in bulks with millions...i think).

I'd recommend MAREI (Mid-America Association of Real Estate Investors):http://mareinet.com/They meet once a month.

They go to the defrauded lender, regulators, attorneys, and the witch hunt begins.I compliment you on "throwing yourself to the lions" here at BP, where the damage to you is far less than if you actually did something like this.Just keep in mind that deals where the profit is made at the expense of someone else (human or big corporation) who is deceived or deliberately made to believe in a set of circumstances other than those that actually exist........is fraud.Joffrey Long

Quit my corporate job 3 years ago and been a full time investor ever since.

It's nice when the tenant is a solid corporate entity.