So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000. 

Super psyched to join this community. 

Yeah, item 5 promissory note vs performance deed process is not super clear. 

I could argue that, for the most of us 10 to 20mm is a good stopping point unless you want super yachts, jets, huge mansions or many personal homes in different locations, etc, etc. which most of us will never get to., or need.

Super helpful in finding potentially motivated sellers and calculating ARV quickly.

IF you have super strong income and you and have a lower 1st lien, lots of equity - MAYBE your best bet is using a local bank or CU to get most competitive HELOC inv terms.

I’m new here and super excited to join the BP community!

Thank you both, this is super helpful to hear relative investment return expectations from others. 

Super interesting, Nate.

Def dont want some manual emailt tracking from their attorney, would be super basic.Told them id be putting principal payments in it here and there, so want to make sure that is all included, just interest only is not that good.