He's efficient and personable and is very able to assist you with questions if needed.Hope to discuss this with you further,

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

They have to have an established contract with the bureaus in order to report.

Fast forward 2 years his landlord mentioned in passing he might sell the property; I was the first person on his mind.

But the risk to the seller on this deal is immense you have a guy tying up a property who has no ability to close it and then sell it to whoever will give him money and that person could be nefarious get into title rip rents could give 2 craps about the sellers credit etc etc..

If you have a chunk of money to get going I'd personally buy the biggest thing you can if you don't I think house hacking into a 4 plex is great. 

I've walked their properties in-person, and their build quality is good.

@Malcolm Brown Are you planning to purchase a property in your personal name or via an LLC?

Raising your credit score will get you far better rates personally as well as with private lenders for your LLC. 

We recently relocated to Phoenix last summer and I'm starting to look for recommendations for local credit unions here in Phoenix which are trustworthy, low rates, personal touch, easy/simple to work with, etc.