These loans are owned by thousands of different investors and they change hands quite frequently.

I will take the property off your hands.

I can't wait to sign the papers, get the keys in my hand and go over and wash/paint the walls, do the minor repairs like add a railing to the basement, etc., If anyone else going through the process of buying a foreclosed home, hang in there.

The only thing I held firm to was I want the bank to pay all closing.

You need to make sure that your exit strategy is TIGHT.I would personally get money from the buyer of my contract and let it be held by the Title company or attorney which ever your states uses.

I agree Dave, you are absolutely right, and you've brought up some very important points - ie. land does not depreciate, short-life assets can be replaced and depreciated too, and all methods will yield the same cumulative deduction if the property is held that long - most of these complexities were edited out of the article to make it a more simple read for viewers.

I hand her one of the $25 cards and say, "Here, try this one", then I walk out of the store.

They’re paying their own utilities.Tim Wieneke: She told me that her brother refused Chemo and put himself into the Lord’s hand.

On the other hand, a couple of us have pretty phenomenal credit and have prequalified for mortgages, but because of this idea, have been holding off on making bids on property.As a newly formed LLC, would banks scrutinize all our credit histories?

It is not an institutional problem it is a systemic problem, the sharks are circling for the free money hand outs and the new compliance people (hell I am trying this new niche out) are looking for ways to become vendors or oversight people to collect the giveaways.I will say it again the ugly is only just started.