Quite a few active military people use the strategy of purchasing a primary residence wherever they are stationed, then subsequently turn it into a rental when they are reassigned.

Yes, you are refinancing so that you get back all but $21k, which brings your annual return for that first property up to 3.77%.But, if that is going to be the same story for every subsequent purchase and refinance, that seems a very slow way to turn your $73.5k into REAL money!

Hi BP folks,I will be as brief as I can be and expand in subsequent comments as necessary.

I was always fascinated by seeing something being made possible from just an idea on paper.I am hoping this website will provide me with a wealth of invaluable information and advice as I work to be a real estate investor.My very first project (which I'm still in the planning stages of) is my first home which I will use as my springboard/dive in to real estate investing and construction: I am hoping to buy a house in its foreclosure/short sale stage or a fairly run down property and subsequently "remodel" (but really rebuild) from ground up.My budget is tight and could be bordering unrealistic for the type of house I want and the neighborhood I'm looking at, but I don't give up too easily and believe that if I ask enough people enough questions, I can just about make it :)Anyway, that's me!

They are very worried that oil prices will lower oil production and therefore the Houston, economy will be impacted negatively mostly through unemployment and subsequently less new hires.

I agree Buyer is entitled to any profit that may ultimately result from the subsequent resale of The Property. ________ 15.

Nothing herein contained shall be construed a novation or release of Buyer or any subsequent owner of liability or obligation under this agreement."

Rental rehab - debatable, but generally included in basis, but argument can be made for deduction.Property Taxes paid at closing - Same as Interest aboveProperty Tax Credit received at closing - Deducted from property taxes paid in the subsequent year, unless included (deducted) in basis as per above.Title Insurance - added to basis for all usesI think that's most everything...

There is a good chance that you will lose money even when they  paid you interest, due to the cost of foreclosure.Some states requires you to pay subsequent years tax.

After the first visit when the envelope is left behind, every subsequent visit I only leave behind two more business cards.