Since part of your home is a rental, you can deduct a portion of expenses like mortgage interest, property taxes, and utilities.

Building a portfolio allows you to gain experience, develop systems, develop your own approach to managing properties etc.

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

We have started a leads generating business that generates top property leads suited to fit your specific criteria.

Never wise to lie, especially about property improvements. 

The way you handled the owner financing and took on the full rehab speaks volumes about your vision and confidence in the property.

Hello, Has anybody done bootcamp “90 Day Challenge to Buy Your First Rental Property” or “Rentals made easy” by Jessie Lang, would really appreciate if you could please share your experience, I could not find any reviews/feedback online. thank you.

Quote from @Jimmy Lieu: Quote from @Andrew Syrios: The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

We now own the beat-up POS property that we need like a hole in the head.

You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property.