In Chicago, we contest taxes regularly and that is part of the game.

Our plan was to rehab the house and rent it out.Here’s the background:My husband worked tirelessly, often putting in 14-hour days both at his regular job and on the property.

These detailed records, (many copies of which had to be scanned & emailed to them), saved us from any 'taxable consequences'. 

From an initial impression, this makes the process of long-term investing much more convenient, and the only fee (apart from regular agent/lender commissions) is the property management fee!

I would NOT mix them with regular families as it often can create management challenges.

The guy who buys from me (Where I get $350 after 5 trips to inspect, all sorts of paperwork and hassle cause it's a HUD) and then sells and I get a commission (My regulars don't pay 3% list either).

I'm in and out of LA a lot thanks to my wife's family and am happy to chat further - but I'm sure there's a bunch of meetups happening regularly in your area, that could be a good place to start to get other ideas. 

Our LLC is on the deed and they sell like regular real estate.Any thoughts?

Depreciation allows you to spread out the expense of assets over several years, reducing taxable income each year.If you need further clarification, financing for your projects, or just have more questions please feel free to reach out to me directly.

We regularly talk about properties they have found...No houses 🏠  yet but with patience and diligence it is going to happen soon.