If you think this is too much to handle by yourself, you'll still be better off spending your money on a digital marketing agency with a proven record, or a content strategist.

The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

The likely market rent in this area is as low as $995 and probably no higher than $1195 and a lot of the rent will depend on condition of the property.Pull up public records on the home, and you will see it initially sold in 98 for roughly 50k. 

Start a public records inquiry at the local/county level.

Just make sure that transferr gets recorded with the tax assessor's office.

@Nicholas L.So purchase is around $1.2m with renovation budgeting around 200-300k, ARV is right around $1.4m with some recent sale records for market comps.

I've been advised by a local investor to look off market and utilize seller financing as I don't have much capital to work with nor the 2 years of employment records needed for a bank loan.

Public records will reveal if a home is in the pre-foreclosure stage.

The community leader, Josh Roosen, really goes out of his way to make you feel connected.And that's the real value of the group at the end of the day: They are committed to your success.A little about my track-record, since joining the group last year I've done:1) acquired 80 units ($7mm in assets) across 2 syndications and 1 joint venture2) Launched a podcast (Multifamily Investing Made Simple)3) Will be publishing a book (Passive Investing Made Simple) in June. 

Because a claim on your record will haunt you in an already messed up insurance market.