Then, check to see what a market-rate rent would be for the units. 

i have a HELOC myself, but if i use it it's for something short term and then paid back quickly. 

In my experience, you need to open the llc, then go to IRS.gov and get an EIN number.

Financial Freedom Network I laughed at -- after reading the agreement, no comparable value for that monthly price -- 3 or so years ago, if value has changed now, my time-based disclaimer is as aforementioned -- and Legrand would do well to disconnect FFN from his name, as I believe FFN is now out-sourced, whatever.I empathize with you , Joe and the other responders, but when I read Legrand’s, and most of the other guru’s, contracts prior to trying a teaser product, it clearly stated in the agreement that if customer did not want the upgrade service for which the teaser/free product, free video, whatever, was being given away, then customer must cancel within the stated period of time, which almost always range from 30 to 90 days [60 days is becoming more common, as more folks forget to cancel]So long as terms to cancel are clearly stated prior to contracting, I don’t find it unethical, -- and real estate gurus have merely adapted a teaser or rebate marketing technique used in most every industry -- recently even Chrysler cars [try our minivan for 60 days!

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Assuming you can utilize the depreciation losses, then yes I'd recommend one. 

You have to pay fees, but you'll have a professional handling issues instead of bleeding money trying to figure it out for yourself, then you have your time free to pursue other things.

I then bought a duplex and eventually got bigger.

I'm new, only been with you guys for a couple days; I connected with a couple people and then boom..

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much.