I know I can't write off the lost income, i.e. if it'd rent for $2,000 a month, and I donate the use of it to the church, I can't write of the $2,000 as a charitable gift.I know if I just treat it as a 2nd home, I can write off the mortgage interest and property taxes, but how do I set it up so I can write off the entire mortgage, insurance, utilities, etc?  

@Ken ScarinceMost reserve studies will speak to the standards for percent funded and contribution rates.

If so, do they have furniture to contribute?  

Along with the refi after a year or two, I would save up the cash flow to buy another property or contribute to the down payment to get to 78% LTV as fast as possible to avoid PMI and to be able to qualify for a regular loan.Based on everything I know, this plan seems to be the most efficient way to acquire as many units as possible in the shortest amount of time, but again I am fairly new and don't know all the possible options.

We are young but very hungry.Looking forward to networking and contributing to this awesome community that has already taught me so much!

Those funds can only accept rollovers from other qualified plans, or you can make cash contributions to them from earned income.Once you establish self-directed plan and acquire asset inside of it - you no longer need to worry about doing 1031 enhance inside of it.

I have plenty of growing to do and am eager to learn as much as possible.I am looking forward to getting to know the BP community and making a relevant contribution!

@Charles Worth You have yet to speak to what contributes to liquidity of a note."

I have been on the site for nearly a year, but I haven't been contributing.  

furthermore without reading the in between comments, i'm assuming it's because he invested a lot of money which is why they are paid off and that's contributing to the 6% cash on cash return.Leverage will get you more money out of your properties.