There are all kinds of plans and ways to “make it” in real estate.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Quote from @Victor Patel: I have went to many real estate and franchise conferences over the last 30 years. 

If you want to acquire more real estate I suggest more savings or sell the other property with equity. 

Learning how to responsibly use debt is one of the best tools any real estate investor has at their disposal.

.- Appliances, same than flooring.Remember that in real estate everything is negotiable, and during the option period you have the unrestricted right to exit the deal.

If you aren't getting a real deal on it then why would you buy it? 

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

Go ahead and file.In real life it costs you time to figure it out and money.

Hi Allison, This is definitely something you would want to get advice on from a CPA, preferably one who specializes in real estate.