You would be looking at the bottom section step 2b: https://content.enactmi.com/documents/calculators/Form1038.C...You dont add the total new debt, and total new gross income(understood its after 75%, I was presenting my numbers after accounting for that)??...

Another lesson is to research companies online and in forums like this before you do business with them and if you decide to do business with someone, dip your toe in the water slowly and continue to research the company after you start working with them, because things can change quickly.I have some questions:1. 

Also, watch the state in which the entity is domiciled - some states like NV, CA, WY, and the Dakotas can complicate matters.Some other documents for NOO/investment properties that I would want are a collateralization of leases/rents and an affidavit of non owner occupancy.

People are always selling items for  Cash..Tax Write-Offs for FurnishingsFurniture & appliances under $2,500 per item → Typically fully deductible in the first year.Big purchases over $2,500 → May need to be depreciated over 5-7 years, unless I use Section 179 or bonus depreciation.Bonus depreciation for 2025 → 60% of eligible costs can be deducted in Year 1 (phasing out after that).Cost Segregation Study → Helps accelerate depreciation on things like furniture, fixtures, and appliances.Summary :Keep good documentation on all purchases for tax purposes.Making sure you meet material participation requirements is crucial for maximizing tax benefits.The faster you get everything in place after purchase, the sooner you can write it off.

Just started using https://www.turbotenant.com/ it gives you a focal point to house documents, gives you a credit report and some other things but it's still your decision to make with the collected information. 

I use QuickBooks Online for all of my clients.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

On-line Auction Foreclosure Website.

Quote from @Lee Banks: Hi my name is Lee I'm looking too buy my first rental property and but I feel as if I need a mentor to watch, I still need to learn the basics of real-estate does anyone in New York do programs or mentorships and where would you start if you first started real-estate today  Hello Lee,I'd recommend looking up local meetups here on BP, meetup.com and, eventbrite.You can also call around to speak with RE investors and professionals in your target market to begin making connections.With so much available information online, I'd recommend speaking to a few people and doing independent research before committing to mentorships.

He is looking for the tenant online and will do a criminal background check and ask for paycheck stubs.Upper Darby said renting a room is against township rules (we asked anonymously) but he is doing it anyway to help with $7k property taxes.Could he get in trouble somehow?