So if you suddenly find a great deal and want to go for it, a tax return showing a massive loss could hurt your pre-approval chances.That said, if you’re not planning to buy anything else soon, deferring the depreciation might not be a bad move.

There will be no difference in the rent - unless the TurnKey provider threw in a desparate/bad tenant to get the higher rental amount.With a TurnKey provider, you'll pay more for a property that they have rehabbed, versus hiring your own crews to rehab something.Yes correct.

So...in order to access the equity built up to replace a roof or whatever would require a cashout refi which sounds pretty bad if that is what I must plan on from the beginning.

@Bhushan Shinkre  I was speaking about fraud against your tenant sort of like passing bad checks, but I don't know if you can do that.  

Additionally, while rates aren't historically bad right now, they are higher than 4-5 years ago, and they will be even higher for you as an investor than they were as an owner occupant, which is what you were when you bought originally.I get that you are anxious to add to your portfolio, but that could be achieved without touching your first golden goose.Sometimes on BP, the push is to leverage every last spare penny, but that can be a risky game as the markets shift. 

You know this and the reason I am saying that I am considering in getting a real state license is the connections, the access to listing off market and possibility of earning commission that I can use to increase my portfolio.I think that being an investor agent will help me build a reputation and that can be good or bad.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

Never heard of them....so don't know good or bad.   

Some "go with their gut" which is a bad way to measure someone's financial responsibility.

Guy has many assets he owns via Sub-to so you're gonna have bad deals.