Without the improvements, my accountant estimated that my taxes after commissions will be $12,500- $9,500 Federal and $3000 state.

I have capital deployed in very rewarding places that I'm not comfortable liquidating for the down payment yet, however i do have roughly 20k+ in my 401k through my workplace Fidelity account that i would gladly put towards real estate..

Keep all your receipts for your accountant.

Originally posted by Account Closed:Bring on property number 3.     

Account Closed you don't need to involve a lawyer or a realtor most likely.

Hi Account Closed, I haven't had to do any major contracting work in my RE experience yet, but I did start doing research for a new multi-family construction/build in Hampton Roads and got great guidance and traction with Gary Tiller of Tiller Construction Company.I found him through buildzoom and he was one of the first contractors to respond and call me directly.

You will also need to take into account any differed maintenance, as well as ongoing maintenance. 

According to my insurance agent, the only additional insurance requirements from a “normal” four-plex is taking into account flood risk / insurance - no other liability concerns.I’ve never owned water front property myself, let alone rental property on a lake.

That's because underwriting standards only take 75% of the income into account and presumably your tax returns are showing deductions.

Originally posted by Account Closed:Kind of silly to mention this now,  but maybe for others,  this stuff should be worked out day 1.