Purchase price: $145,000 Cash invested: $60,000 Fully renovated 4-5 bedroom ranch on 3.3 acres.

For experienced borrowers I can lend up to 80% LTC and 100% of rehab on 5+ unit apartment deals like this.

I am in one of the higher tax brackets and could be saving around 40k~ a year on taxes with this.

Unlike Robert K and many on this site, I judge a property based on total return.  

Set on 3.3 acres, this home has everything your buyers are looking for: a brand-new septic system, a state-of-the-art wall-hung boiler with radiant heat, and a stunning new kitchen complete with updated appliances and an island for gathering.

I also ran my own roofing business one summer of college.

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

Determining the cost on something like this is only something you'll be able to find out by talking to the city.

Not unless she adds more real estate work.So we are actually in agreement.

I specialize on STRs in the Tampa FL area.