As far as DTI, primary income is a huge factor. I

Here's a piece about calculation partial exclusions and when the month vs day calc might be beneficial  http://www.thetaxadviser.com/issues/2008/aug/plann...Based on your earlier numbers, and assuming no renovations are added into your basis, the math would be:Basis = $235k + $17.5k = $252.5kSale = $390kGain = $137,500Prorated Sec 121 (Days)  = (573/730 * $250k) = $196,233.The only missing factor is your depreciation, which you have to deduct from your basis regardless of whether you took the deduction or not.

Best of luck and remember new isn't always the best route over a well maintained 3 yr old car still under factory warranty.

Thanks for the responses.The nice thing about being a factory drone is that I have plenty of time to think about real estate!

Currently pursuing residential investments with extreme interest to one day find myself developing old factories and buildings of that sort.Currently SeekingKnowledge and general mentoring.In Short - I look forward to becoming a part of your community.

Sure there are flukes out there where a seller sells by themselves and gets full market but is not the norm nationwide.Also at factor is how successful the broker/agent is.

College GradBuilt a Party Planning Business - but wasn't an owner and got nothing when it was sold to Vegas.comVP of Operations for Yacht Blinds International - Mainly just a sales Manager and oversaw factory work

Honestly,I'm still not sure what I want to be when I grow up Christian.I'm thinking of getting out of my current job anyway,and that is the reason for thinking about getting the RE license.It's simply time for me to do something different.I'm becoming miserable and while i'm not opposed to changes I am opposed to being miserable :)The wife and I have discussed it and we aren't opposed to selling our current home.With the cash from the sale it would be possible to buy at least 3 decent rentals.We could rent out 2 and live in one for awhile while we look for more.I've lived the high life with over 150k household income a year and the lowest in which I slept behind a chicken factory for a couple nights on the ground.Even if we only end up with a couple houses it would add to the income stream.I don't have a clue if this is what I want to do with my life or not.I've weighed the pros and cons and even if I fail miserably it won't be an issue other than pride.And i'm too smart to fail,I'm just hoping this time I won't get bored.

I really admire a much older friend who had rentals, after the Korean War he was employed at a factory, stayed there to retirement, over 40 years inside the same walls.

Also, the supply and demand factor is in play for multi's.