Welcome David,Look into the numerous blogs and podcasts here on BP that will definitely assist you in your REI journey.

The real estate market here never ceases to amaze me, when I bought this place it was in a "undesirable" part of Berkeley which has seen numerous improvements over the last 5 years and I thought I was paying to much 5 years ago.

Still need to run all of your numbers and ensure any property is a good investment if you are planning on being in this for the long haul.There are numerous posts on FHA financing and living in a portion of your first rental property.

@Amelia Bartlett, there are numerous threads discussing the topic of title searches here on BP.

You buy the tax deed or foreclose on a lien and get the deed to the lot and now you inherited the costs of infrastructure and rebuilding the lot. 3) Numerous other reasons for the lot owner to be defaulting on taxes.

My friend's father, also a real estate investor specializing in multi-family properties, has numerous LLCs established (her guesstimate was about 18 LLCs) for tax purposes.

My specific question is whether that rental income must be realized prior to being considered in the appraisal or may potential income count towards a praised value.I guess I'm trying to figure out if I have to move out in order to realize the full potential of this income property.I really appreciate your input Ken.

I think you'll find you pick up numerous tips and great info along the way!

From a fellow BP addict who has attended BPA numerous times (bigger pockets anonymous) and failed to quit, congrats on reaching 500 posts.

In DC, if you can cashflow $200 per month on a property, thats pretty good in my book.The reasons that not everyone is jumping in and buying instead of renting are numerous:1.