sounds like an ordinary lunch that you would take personally and is not deductible.If you had other persons with you and you were discussing business and picked up the tab, then yes it falls under the 50% meals/entertainment category.If you stop by to grab lunch while you are running errands for your business just the same as you would go out and grab lunch while you are working behind your desk, then it does not qualify.The IRS would disallow it.

Don't go blowing wads of cash on entertainment or increase your cost of living.

Bottom line: it's a great tool to for entertainment but not something to use when your money is on the line.

We also saw some houses for rent and will be contacting their property managers for more info and to see if the owners would entertain selling.

Another update.After I pulled out of the deal, I took my vacation, thought about it, went to the city and did some more research and think I have a better handle on what work is required and quantified my risks.I waited another week and saw they had another price reduction.So I called up LA and asked if she would entertain another offer pricing in the added issues.

With PM expenses come out to be 47%.Financials:Expenses in a year- $9339 this includes %12 for PM and 18% Maintenance and CAPEX.Gross Operating Income less %5 vacancy (average around here) is-$19479Realtor told me that the seller would entertain offers from 105,000 He said "anything can happen".This deal seems to be solid, I just wanted your options on the deal and the age of the big ticket items.I believe I will keep this under my own name and get a very large insurance and umbrella policy.The other question I have is, about lending.

I won't even entertain another broker that brings me a borrower, who knows what is going on, unless I know the broker, well.K.

Hope to keep you entertained!

No BS about poor maintenance etc was entertained.

I told the seller that my offer was non-negotiable, and if not accepted, I would not entertain a counter offer, nor would I be putting in another offer.