I just bought my first rental property in Baltimore, MD, and I’m planning to rent it out by the room, including the basement.

I did get the property deeded back in my name and a Promissory Note created by attorney. 

My advice: Browse through discussions for key words relating to your deal(s), add input where you can, and following those with the best responses.

Quote from @Tomasz Kaminski: I'm looking locally at my county auctions and there's properties for sale due to foreclosure.

My sales guy, Ben, mentioned that he did 20+ deals since joining the program and 8 of his deals were funded though the Springboard Funding program. 

My students and investors that have done the best in real estate always buy distressed homes, put money into the rehab and hold them for long term rentals.

@Shaun Ortiz providing for the future needs of my family, RE is my retirement planning vehicle of choice.

That was my fear no easy type loan like a Heloc.

I'm curious as well.But, I am sure that one of the CPAs, enrolled agents, or Tax professionals on the forums will be able to answer this question now that I have summoned them with my keyword stuffing.

Investment Info:

Single-family residence fix & flip investment in Success.

Purchase price: $55,000

Cash invested: $25,000

Sale price: $119,000

Bought at around $50k
Fixed up at around $20k
So...