He says he would provide me with a 1099 and he has to do it this way because the seller insisted on using their title company and the title company would not include the assignment fee to the transaction.

The increased depreciation deductions can offset your taxable income, including gains from the sale of the previous property.

@Kobe CarrDallas offers benefits for first-time real estate investors, including a growing economy, diverse property types, affordable suburbs, landlord-friendly laws, and strong rent demand.

Get a list of recent inspections and permits to make sure the new roof and such were done right.Check with police if any reports for the property.What's included in the seller's expenses?

The first monthly interest installment of xxxxx due on or before April 15, 2024 and continuing in like consecutive monthly interest installments of this amount for a total of one (1) year or twelve (12) payments at which time the entire unpaid balance, including Principal, accrued but unpaid interest, will become due and payable.

Start working on your credit score and research financing options, including FHA or conventional loans.

We're looking for possible next moves including doing a 1031 to a lower prop tax state into a couple of newer SF units or possibly a multi-family opportunity.

This gives me access to a large network of skilled contractors, including plumbers, HVAC specialists, electricians, and general contractors.I’ve identified a promising opportunity with an auction property, but I’m unsure how to accurately estimate rehab costs with only a small window to do so.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I recently learned they are being sued because one property they managed one of the people touring it, trashed the place and stolen everything including light fixture/faucets.