All the best to you!

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.

It seems like the North Dallas (where all the buzz seems to be) seem fairly far from downtown Dallas.

Already replied to your other post about Detroit questions.Your latest questions:1) Simple: you don't offer asking price, you offer an amount that makes your numbers work.2) You're looking in the wrong places, using the wrong search criteria - there are tons of deals available!

How did they miss the electrical & roof issues - or did you just not understand the inspection report?

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

The next resource Dave gave me was Earl Nightingale's The Strangest Secret.

. :) Wishing you the best in your business. 

@Joe MichaelsI believe the new cap ex starts a 27.5 year clock at the time of repairs.

Moving and buying your first piece of real estate is a lot in the next year!