I’ve been doing that with a few market recently, I try to spend a week just online trying to figure out the different boundaries/different neighborhoods, what the dividing lines are, what type of housing stock is there (I only focus on post ww2 brick for instance) than figure what the yields are in these areas, and then decide if the yields are decent enough on risk adjusted basis to bother to invest.

So, technically, the answer is yes - it is a violation of the mortgage deed and in theory, the bank could foreclose on this basis.

It takes time, hard work, passion, and dedication - all of which I already possess and use in my everyday life.

On sales, the owner portion has it's own basis, depreciation, capital gains and the rental has it's own basis, depreciation and gains.

Anyone got a good recommendation for websites that can provide me a deeper analysis of a neighborhood, preferably on a zip code basis?

What happens if something spills and/or leaks under the floated flooring (like a cooking accident or the tenant getting wet out of the shower on a regular basis)?

The IRS sees your “partner basis,” the $250,000, and suddenly the $100,000 first-year loss doesn’t seem so out-of-whack.

.: Quote from @Jay Hinrichs: slow down.. you own the land.. its worth 1 mil  what is your basis? 

I am glad of the value and it continues with the value every day...

And I bet that when all is said and done, LPs who invest with GPs who put real wealth into their own deals will do better on a risk-adjusted basis than those who invest with GPs who don't.