But YEs the 25k passive loss limitation is phased out completely @ 150k.NOt being able to deduct your personal Mortgage income against your income sounds questionable though, I don't know of any income limitation disallowing this?

My question is if I purchase it as Owner Occupied can I replace the mobile home with another from the start (during that live there for a year) phase?

Second phase began buying from LLs and selling on installment contracts.

Great list @Ky Sharp If you are confident in your analysis and buying all cash the appraisal/bpo isn't necessary but an appraisal may help you negotiate if it comes in low.We like to have two or three mgt companies walk the property during due diligence and propose their mgt plan that includes a capex and/or repositioning budget.If the subject property and all properties nearby are the only things ever built on the land there you may not need a phase 1 environmental but if it's a large property and/or you're bringing in outside capital (lenders or equity partners/investors) having one demonstrates your thoroughness and professionalism even if one is not required.If there isn't a recent survey one it may be required but if one is not required getting a new one falls under the same considerations as above.We have gone to always having an engineer do the inspection even though it can be 2x what a non-engineer inspector may charge.

Your best defense is to identify issues as or before they occur and be in a position to dispose of that inventory and replace it, hopefully with an early growth phase property.Market rents can significantly change in 5 years.

They might be willing to talk off the record and give some general guidance on how to most effectively phase your improvements when considering lead).All this said, there are certain types of lead contractors and different risk levels of lead removal.

@Jeff Greenberg & @Joel Owens it's not uncommon in MF deals to go back and renegotiate the price/terms if you find a bunch of deferred maintenance, cap ex, etc. during the inspections/due diligence phase, correct?

Both the blower motor & induction motor were gone (about $800 in parts).

All of my, 'pre-negotiation phase work,' is coming to a close, and I can't EXACTLY pin down the home owner, her mailing address, or phone number.

It's helpful to do this even if you only plan on building the 8 units as phase one.