Also Seller hasn’t paid property taxes in 2 years which is a sign the property is in distress.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

Would recommend.I will be using the firm for my 2022 tax return (1040 and 3 LLC's), expensive (about $5k-6k) but given they've assisted with the tax planning I'm hopeful the synergy will provide the best outcome.Happy to answer any add'l questions.Pat  Hi Pat,Just want to confirm, that is HallCPA fee for filling 2022 tax for one 1040 and 3 LLCs?

If you can rent it for $2,000/month, after fees, taxes, and potential maintenance costs, you’d still make a decent passive income.

On property number one, I would cash flow $750 a month after mortgage, taxes, and insurance if I also rent out the unit I live in.

If you’re interested in investing in real estate, you can consider doing so with a Self-Directed IRA to defer taxes on capital gains until you actually withdraw the funds from your IRA.

.$275000 with 25% down, taxes $4080, insurance is 3000 yr and rents is $3800 month, Water $400 mth. 

You also don't have to pay state tax on income. 

This allows us to close extremely quickly, which is an important competitive advantage.I don’t know how to read our own tax returns, and I’m certainly not going to read yours.