The IRS requires a very detailed mileage log, so if you are ever audited, you run the risk of losing your mileage expense if you simply estimate.

It's not just about the numbers – it's about creating win-win scenarios where both parties can sleep well at night.3 principles I've learned after 4 years in real estate investing:1) Transparency builds trust. 

Yes time and place for everything, but also just because your buddy does it does not mean its right. yup would have to be a knuckle head to believe that 50 a month for life is better than 1 mil today.. its why folks that win the lottery take the cash..

Simply ask yourself the question how long will it take you to obtain 25% or 5% down. 

For us its simple math, if we can sell it on the secondary market for 90 cents on the dollar, lets offer the borrower 5-10% discount to pay off the loan and we still win and the borrower also wins. 

(Yes, I understand comments provided are simply educational, I will consult with an attorney before moving forward.

The seller needed to close quickly, and we were able to negotiate favorable terms to make it a win-win transaction.

#2)  20% on winning bid blows my mind.  

Hold it for 20 years and rents will be double what they are today, the home will appreciate to twice what it is today, and you'll win.

Quote from @Brandon Croucier: Hi John, You can simply ask an appraiser to give us his opinion on the market rents.