And he's trying to pull it off while distracting you with fake rage at AIG bonuses that his administration wrote into the outrageous stimulus package.

You cashed out 70% of the appraisal for 308k, so it sounds like you ended up with your entire 305k cash back, another 3k cash "bonus", and then 30% equity in a 440k duplex that generates around $1200/month NOI. 

We already had a de minimis $2,500 exception, and now we have 100% bonus, and Section 179 is now available to landlords.

I wanted to share with you all my success story.I found the property through the hard work of my nephews (age 16 and 17), who I tasked with some D4D (Driving for Dollars) last summer I paid them a low wage, but promised a percentage bonus if I closed a deal within a year on any of the houses they found for me.

The equity doesn't do much good if its sitting in the property, appreciation is a bonus and its speculative.

The other bonus here is by the time you are required to do maintenance rents have increased enf so cash flow stays current. 4.)

Bonus: The property manager that TJ uses, Matt, is really awesome too.

I don’t really have a passion for the insurance industry , but it pays me a good salary and I will have the opportunity to make a lot more with bonuses and it also has good residual income .

Talk about a wonderful bonus.

@Dave Ventura, I always recommend to invest for cash flow not appreciation but try to invest in the path of progress to increase your chances of an appreciation bonus.