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petitioner has listed the Clinton property for sale on a "build
to suit" basis with different realtors but to no avail. To date,
no house has been built on the Clinton property. Petitioner
continues owning both properties.
During the 1980's and early 1990's, petitioner also began
another real estate activity unrelated to the Bridgewater and
Clinton properties. Petitioner purchased, during that time, 50-
percent interests in three rental properties located at
Knoxville, Tennessee, at the following addresses: 1365 Armstrong
Avenue and 1000 and 1006 Thompson Place. The other 50-percent
interest in these properties was owned by Cabell J. Marshall (Ms.
Marshall), a real estate professional from the State of Georgia.2
Petitioner and Ms. Marshall also purchased, along with a third
individual, George Mitchell, interests of one-third each in real
property located at 1503 Coker Avenue, Knoxville, Tennessee.
Additionally, Ms. Marshall independently owned rental real estate
located at 1424 Armstrong Avenue, Knoxville, Tennessee. All of
these properties were located in an older section of Knoxville
and consisted of large old homes that had been renovated and
converted into rental units by the owners. The rental office for
all of these properties was located at the 1424 Armstrong Avenue
2
The record in this case does not indicate how petitioner
came to know Ms. Marshall, or how they became involved in
purchasing rental real estate together. Ms. Marshall was an
attorney and was admitted to the Georgia State Bar.
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