Hey there Account Closed! 

No one pulled a payoff to confirm the balance or looked at the latest statements before closing? 

For details: One example property is a SFH, south west of Little Rock (close to 430 and 30 intersection), price is 230.

We are closing on a property next week in the single member LLC, therefore that one property will be filed on a Schedule C correct or will this also be on the schedule E?

I have somehow managed to close 13 deals my first year while fully time Navy.

They are literally working for free in hopes of getting paid when you close the deal.

Even OO with closing and reserves it will not go far.

"Good about deductions" sounds a lot like "doesn't make enough money to be a homeowner", so he should keep renting from someone else, and you should do what you're going to do with the money and wisdom you earned.Of course I don't know your son, but I think this is too dicey and you are too close to the situation.  

They have a new area manager and he is on the ball and on site checking out our properties closely.

Those qualities can be the difference between closing a deal and walking away empty-handed.What about you?