I charge fees that create additional income.

I had dreams this was going to be the start of income each month with very little work.

Also, I'd lease out the other bedrooms for additional income as well as practice screening, leasing, and interpersonal comms.  

However as you correctly point out this is far more risky and or its risk capital compared to buying a income property.. but the reward can be strati-spherically higher .. not just a little bit but it can be life changing profits on some of these deals.

I'm curious what anyone here thinks of the owner financing terms.Listing Price: $374,900Down Payment: 25%Term: FlexibleInterest Rate: 6.25%7-year balloonThe property's net income over the past 3 years is averaged at roughly $42k per year. 

Financial PlanningCash Flow: Compare your estimated rental income with your mortgage and other expenses.

To calculate the cash-on-cash (CoC) return for the rehabbed unit, take the annual rental income from the newly rentable unit and divide it by the capital invested in the renovation.Formula:CoC Return = (Annual Rental Income) / (Rehab Cost)This will show you the return based solely on the funds you put into the rehab.

@Ben Trageser Stessa is an excellent platform for tracking investors' income and expenses; it is user-friendly.

SPECIAL RULES FOR SECTION 1031 LIKE-KIND EXCHANGE TRANSACTIONS, page 135 states:". 01 Taxpayers are provided the relief described in this section if an IRS News Release or other guidance provides relief for acts listed in this revenue procedure (unless the news release or other guidance specifies otherwise)..02(1) The last day of a 45-day identification period set forth in § 1.1031(k)-1(b)(2)(i) of the Income Tax Regulations, the last day of a 180-day exchange period set forth in § 1.1031(k)-1(b)(2)(ii), and the last day of a period set forth in section 4.02(3) through (6) of Rev.

I have a high w-2 income and I know how to make money in real estate.