My short term goals:get a mortgage and buy at least a 3/2 house to rent w/a positive cash flow.Move into it, and either rent or sell my residence.

I spent months looking for the right deal, long story short he went to look at the property and cut a deal with the widow who owed it.

But that really is not the only issue, but moving on....if you're making the payment and the loan is current, it's highly unlikely a lender is going to say move out and give us the property, especially right now.Long story short, notice to the lender is important as it establishes acceptance of the transaction over time.

In my experience, the best tax professionals are the ones who will help you plan several years in advance for ensuring maximum long-term tax savings (as well as short-term, of course).

Then my wife to my surprise and joy suggested that instead of taking the profits and spending them all on the short term that we try to invest them in some other properties closer to where we live.

you're 26, life is short brother.he may like you, think you're a good guy, smart with computers and maybe he sees qualities in you that may help him in the long run and help you realize a completely different way of life.on a side note, regardless of this situation with this investor - try not to limit yourself to just your job.there's 24 hours in a day, why work only 8 of them for someone else, then sit around and watch TV or obsess about how lean your stomach looks by working out and wasting valuable time expanding your full potential?

What is the 1st is a huge loan, can you do a short sale on the first after the 2nd and 3rd forclose?

I look to start looking to help people in forclosure with short sales or refinance if they have enough equity to refinance.

Well to make a long story short, I'm waiting to hear back about a job I was promised from a friend who happens to be the hiring manager.

Andrew, your lawyer was talking about a cost segregation study.It involves identify and separating short life assets from your new property basis and depreciating them separately, thus accelerating depreciation.For example, you can depreciate a 200k property over 27.5 years, ORUsing cost segregation, you determine that you have 20k in 5-year assets within the home(carpet, fridge, AC, etc...)You can depreciate the 20k in assets over the next 5 years and depreciate the 180k for the property over 27.5.