First Ever Deal - Closing Costs

[Dan Marro]

Hey all,

I am looking to close my first deal w/ a partner in the next few months by getting into a duplex to start. I am in the process of building up my team, but I really want to know total out of pocket costs after ALL closing costs are taken into account(legal, financing fees, broker fees, title transfer, etc.). How does that all work? For example:

- Legal would have to set up an LLC, generate standard lease agreements, standard eviction letters, etc. Do they get paid hourly or a flat fee for this type of service, and are my legal costs built into my cost basis, and hence, increase my future cap. gains tax base? Thanks in advance

Regards,

Dan