The only part that Property 1 pays on that loan is the escrow for property tax & insurance for Property 1.Thank you for your insight.You need to look at purchase price to determine cost basis, not how you financed the purchase.

You can try and fight it but does not mean you will be successfulI would also be curious to see what your property insurance looks likeFor me this is just another example that home prices are gonna eventually have to soften as between taxes, insurance and Interest rates home affordability is very challenging

The plan is to use the proceeds from this rental to buy another rental property for about $650-700K, plus to pay off the home that they live in now ($260K owed).

We owe $154k on the property and the interest rate is 4.25%, the monthly mortgage is $1050 with taxes and insurance.

Currently working with a mentor, and I plan to give him a chance before I jump to something else.

Well one thing that is interesting in regards to Earnest Money is that you take a place like Ohio, I'd imagine it's the same in Oregon but in Ohio the Division of Real Estate regulates the activities of real estate brokerages and their trust accounts but the Division of Insurance is who regulates title companies.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

So on numerous occasions, I have expressed my concerns about staying within my budget.Now on top of this, the property manager let the pipes freeze and they leaked and the boiler also cracked which I was told to file an insurance claim.

My goal is to grow in the real estate space, and I plan to self-manage this property.

I don't plan to hire an outside group.