@Adam BartomeoGuys the IRS requires the 1099 amount to be equal to the GROSS amount you collected on behalf of the owner, even if you are collecting water bills, etc. from tenants.NOTHING is deducted from the Gross amount,including your PMC fees!

If you buy a hot water heater for the other unit, you can write off 100% because you have no personal use of that hot water heater. etc.

The zoning changes will make California a hot real estate market.

If the seller is insisting on a high price with not-so-hot financing terms, though, this may be a riskier project than it's worth.

However, most tend to get very watered down with sales pitches etc.  

Be sure to have the gas, water and sewer lines inspected as these may be dug up or collapsed - and very expensive to replace/repair.

For example, I have a subject property that has 1682 SF on the main floor and 810 SF of finished basement (the majority of which is about 8 feet in height with the exception of some bulkheads to hide the mechanicals) and 271 of semi-finished basement that is a utility room basically (washer/dryer, freezer, hot water heater, furnace, some storage).

@David Cook this is why we’ve started using water based polyurethane on our hard wood floors.

Can fix the water damage in the basement yourself.

If you leave a house unsecured, there’s a chance you’ll lose a furnace or water heater.