For example, if you end up having excess losses that carry forward from year to year, and then you sell one of the properties - then the allocation of overhead expenses will matter.That said, if you want to simplify your bookkeeping - stick with #1, even distribution.

Killer deal, but I like your appetite for risk and persistence!

Most of the excess in the numbers comes from wanting to 'err on the side of caution' since this deal looked really-really good. 

Of course the property taxes would be excessive and would render rental calculations infeasible! 

He said I would not need more than this since my net worth is less than $1M, however, I am having him look at quotes for an excess liability umbrella policy for these as well.

I don't have an appetite for discounting a bank owned property to a bulk buyer where I may be going after the borrower for a deficiency.

After switching hands a few times over the years, the house at 2830 Park Street was purchased by the Florida Cabinet using what’s called the Internal Improvement Trust Fund.In 1982 the state Department of Corrections took control of the house and used it for what’s called a Women’s Adjustment Center — a sort of halfway house for female inmates with short sentences.Now, a Department of Environmental Protection spokesman said his agency is in charge of selling it off, along with other excess state properties.

The former covers the more routine added "wear and tear" from the dog, whereas the deposit covers excessive damage.  

Generally this type of transaction is best for a sale in excess of $1 million. 

@Mark C.You may not do either of the things you propose.You may not transact with your IRA or make contributions to a Roth IRA in excess of the allowable $5500 per year ($6500 if you are age 50 or older).If you have existing IRA funds, those could be setup so as to be able to invest in real estate.