You learn the most about being an agent in the field and by choosing a good first brokerage with good training either in-person or online, depending on your preference.

You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring. 

I’d have a better picture by sitting down with someone at a bank, but I did a calculation online and the new loan on cashing out $130k would still be covered by the current rental payment.

The Seller’s earnings are around $300,000 for the past 3 years.

you have to calculate the interest costs.and.... it makes zero sense whatsoever to buy something turnkey with that much leverage. none. you'll never, ever pay back the HELOC with the non-existent 'cash flow' from the property.just trying to be realistic. the market is unforgiving right now.would there be any tax benefits for loss of income on property to offset high w2 earnings?

It all starts with a website and online presence.Let me know if you need step-by-step directions how to do this right.

In fact, given the start up costs, the best way to make a profit as an MTR is to earn the continuing support of the property owner served.  

We found this home through a combination of online tools and personal exploration in the area.

Syndicators make an acquisition fee just for buying the thing, management fees, a disposition fee for selling the thing, and have the opportunity to earn carried interests in the form of 20% of the profits.

We found this home through a combination of online tools and personal exploration in the area.