@Ron Fletcher I work with investors in Chicago that invest in properties this way, but I should preface that our procedures are governed by Illinois laws and Chicago laws so youf area may be different and you should consult with local counsel.

I just find the prices a bit too high for rentals in Denton proper, but if you are patient and look around to communities like Ponder and Krum and Sanger, you might be able to find things that you'll be able to rent readily to people who work in Denton (county government, universities, very large medical complexes, etc.) but cannot afford to buy in Denton.

Scary as hell because I also work full time.It was overwhelming at first but I broke it down day by day and start building my procedures and questions to ask.

The more you learn about closing costs and procedures, the more time and money you will save in the long run. 

The "change of accounting method" procedure does not apply when you only missed 1 year of depreciation.6.

Perfect for salon or small medical practice (350) sqft- Single electric meter- Entrance to condo is in the back- No fire door separating.Question, has anyone used two separate leases for this type of situation.

Perfect for salon or small medical practice (350) sqft- Single electric meter- Entrance to condo is in the back- No fire door separating.Question, has anyone used two separate leases for this type of situation.

I know that sometimes animals (and people) can snap without warning and if that were to happen I don't want to suddenly be responsible for thousands of dollars of medical bills. 

Barbara,It's important in a situation like this to CYA and follow the right procedure. 

Whatever money has not been spent on replacement properties at that time comes back to you because there is no longer the opportunity to complete an exchange.To emphasize the importance of this concept to a QI you must understand that the way we treat one client procedurally is how the IRS would perceive we treat all clients.