2nd Liens
I just recently bought 2 rehab props and need some cash, are there any lenders out there willing to do a second lien or line of credit against the equity until I get the prop sold? 
[ Edited by anorris1 on Date 05/15/2005 ]
eloan
This is in regards to an S-Corp btw.
I am an accrual basis investor and I always send a 1099-C to the I.R.S. when a tenant skips town.
Why would you NOT want to treat income that way? Renting to low income tenants can quickly add up to quite a bit in "bad debt" if they skip town without paying. Why would you not want to be able to deduct that loss?