State assistance - I have heard that some states offer this.

As others have mentioned you start on Form 4562, but in my opinion you should have a simple google sheet or excel to track all of this for your properties.

Record the fair market value before and after the flood, and subtract any insurance or FEMA assistance.

She likely can turn to legal assistance for tenants rights, especially if she’s taking care of a handicapped son, so be prepared for resistance.

The property use to be an assistant living facility and has been updated , along with 5 acres, and two multi units on the property along with 2 single family homes on the property.

As a beginner, I'm hesitant to invest out of state, especially since I don’t have anyone to assist with tenant issues when they come up.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000

Cash invested: $150,000

Sale price: $187,500

Flipped approximately 550 homes over this time period wit...

@Andrew Syrios I will try and track down the source, but I read somewhere that the money has been spent and it will not be refunded by the county and they’re unsure how they will remedy it for owners, but I don’t expect any money back 

Hi Brian,You're on the right track, but to determine if you're truly generating cash flow, it's important to look beyond just your mortgage payment.Here's what to consider:Income: You're receiving $2,100 in rent, which is great.Expenses: Besides your $3,232 mortgage, you likely have other expenses like property taxes, insurance, maintenance, utilities (if you cover any), and potential vacancy costs.If your total rental income exceeds all of these combined costs, then you're generating positive cash flow.

If you’d like help exploring real estate investments or structuring financing, I’m here to assist!