Quote from @David B Graham: Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Single-family residence buy & hold investment in Rocky Hill.

MattIRA buys a property for 100k and puts 30k to 40k into the property.

Quote from @Robert Medina:  I’m trying to figure out how I can pay myself and buy another property. ...

However I have a contractor who I’m considering partnering with who wants to buy and flip homes in Baltimore.

I hope you end up buying here.

Hey everyone, Who here is looking to buy or even start their own cleaning service business?

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Going through my real estate journey I have learned a lot, I am 24, a veteran and a graduate from Temple University,I started with aspirations of investing on a property and making a quick flip.My problem lied with fear of failing, my capital and my savings.I decided I wanted to learn the real estate market and know the ins and outs before I would make a bold choice on buying my first real estate home.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.