.- Expected renovation costs $1MM.

A) it controls my cost.

And that can cost you time and money.

Determine Your BudgetSet a Realistic Budget: Consider the cost of tuition, living expenses, and your financial situation.Mortgage vs.

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

Here's an article with additional FAQs on cost segregation studies that you may find helpful.

Take your sales price, minus selling costs, minus any capex, minus purchase price and that’s your taxable gain.

That's not the same as paying cash.According to a different post, your credit card debt costs you $600/month.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different.