Start small with one property, choose a strategic location, stay transparent with lenders, and ensure tax compliance.

Prior to losing the home in foreclosure the previous owner had retaliated against the lender by cutting out most of the exposed electrical wiring and removing the heat and air units from the property. 

So, essentially the money from the ultimate buyer can NOT be used by the intermediate buyer to close on their purchase since that would be using money from a purchase that can not occur until the prior purchase has been completed.  

Hey Chris, a few thoughts here.Considering that office is not attached to the house, I wouldn’t add any footage to the total home square footage; however, you could advertise that office space and amount of footage and amenities in your remarks.If you’re a Realtor or are using one for the sale, your local MLS may have fields dedicated to additional footage for other buildings on the property, such as ADU’s.The other point is that typically, perhaps depending upon location, a space needs to have heating to count in the square footage, which this office doesn’t have if I understand correctly.Consider contacting an appraiser to inquire about how they would handle this space on an appraisal, or a Realtor.

@Sam Dal Passive activity gains, such as those from a sold multi-family investment, can only be offset by passive losses, including accumulated ones from prior years.

Hi Meena,I am located in Austin TX and work with foreign nationals as well.

I think the most important thing would be to have a strong contract in place and to have done thorough due diligence on the front end prior to signing up a contractor.

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

With all of that said without know more specifics about what price points you're considering and location I'm going to Generalize1.

We do, however, have to register in the State where the property is located.