Purchase price: $50,000 Cash invested: $50,000 My first investment was a three unit deal for $50,000 cash.

Its a a matter of time until someone does it! 

I've personally worked with Eric more than once for a Land Loan!

I hope they are just in a testing phase and will receive enough complaints to pull this back.

I still made it work, but man, it was close.Has anyone else been blindsided by something in a deal like this?

@Alec Jacobs you have a good process as far as making them fill out a application before touring the property.

So if you suddenly find a great deal and want to go for it, a tax return showing a massive loss could hurt your pre-approval chances.That said, if you’re not planning to buy anything else soon, deferring the depreciation might not be a bad move.

As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.

I have a great connection for you in Salem, NC! 

The 1% rule is a metric from 2014.