I owe $92K on the property and other properties in the area have sold around $96K one other one sold at $103K which was mainly due to upgraded granite counters, stainless steel appliances which isn't typical for these properties.

In addition, I joined a sportsman's club in 2009 and have gotten started shooting in USPSA, IDPA, Action Pistol, American Steel Plates, and other defensive pistol type venues.

Originally posted by Robert Steele:...

Your ability to offset ordinary income with passive losses is often touted as a benefit, especially by those hawking junk deals, but is in fact very limited.Just like playing a slot machine, its entirely possible to set down and play a few minutes and win a nice jackpot.

NEW gourmet kitchen w/cherry cabinets, NEW stainless steel appliances including fridge; breakfast bar that opens to great rm.

I read an article a few years ago that said Toledo was voted "the City Most Likely to Die", The Retail market in those 3 areas has been DEAD for more than 25 years, Since the Automobile and Steel Industries went kaput, they each have some of the highest number of foreclosures in the US, some of the highest unemployment rates, banks wont allow Cash out refi's in those areas because values continue to decline, so how are all these "Investors ?"

Additionally I noticed that the lock on the machine was broken and the tenants were over-riding the coin slot and turning the machine manually.

John Steele and Charlene Garrison thank you both for your information.

Thanks @John Steele, We did talk about 6 months ago I believe.

I got this job for an office, they have dozens of file cabinets which are full, about 6' x 4' x 2', these are steel cabinets, full of paperwork files.