The land acquisition cost is relatively straightforward.

Today, the gross rents are $2,875 (exceeding the 2% Rule).

They were not straight forward with the renovations and even tried to hide a painting error they made and have us pay to have the room redone.

., and the ability to offset W-2 income may have limitations due to the passive activity loss rules.

Haven't ruled it out yet.

Value $900,000; $600,000 debt, $200,000 basis; 7% sales commission, only him- mother is deceased- $250,000 cap gain tax free, $70,000 sales concessions or repairs, capital gain tax on $550,000 less costs,  etc etc.  2 out of 5 year rule, can he live in other buildings?

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

Although they may seem like only driving violations, it shows a pattern of disrespect for rules and responsibility.  

My out-of-state clients love it here because they can still find deals that hit the 1% rule, positive cash flow, and have lots of potential for appreciation.

Becoming an employer adds a whole different layer of rules/taxes etc in addition to that it might not be permitted by the Broker