@Lionel Quiambao This is a great point from Dan. 

Originally posted by @Richi Brown:@Tony Robinson Awesome job!

@Lionel Thomas in California the maximum legal fee that can be paid to a NON-Realtor is only $500.00.

RichI agree that the taxes are a huge consideration.

You won't get rich (ie buy at 175K, rent at 1700), but it's a low risk intro to investing, no deferred maintenance for up to 10 years, and the builders are offering some great end of year concessions right now.

Not all home owners are rich. I

Both FSBO houses I sold very quickly and of course the house was completely redone and I priced it to sell not to get rich. I

@Richie Thomas Congrats!

Rich thanks rich, i am actually desperately searching for a *knowledgeable* CPA in NJ. so far the 2 i have used in the last 2 years were no help at all and just didn't know much about investment properties. i am early in the game so i don't think my business taxes are too complicated, but it's definitely going to take a CPA with knowledge and experience with RE/I to do my taxes correctly. i'm hoping in the next couple of weeks i get some recommendations for local professionals. i appreciate your opinion on the matter :)

@Richie LepineI think you should connect with lenders and other loan experts for detailed information.I think most banks offer this service.