Some of the expenses are: advertising, cleaning and maintenance, utilities, insurance, taxes, mortgage interest, points, commissions, tax return preparation fee, certain travel and transportation fee, rental payment for equipment for rental business and many more. 2)You can deduct mortgage interest and property taxes as expense on the rental portion and remaining personal portion can also be deducted as itemized deduction on personal return. 3)If you rent the duplex you can deduct repair expense as rental expense which would be personal expense if the house is not rented out and would not be deducted.

It's called "unregulated".By way of a comparison, consider sunken ships.

Hi @MichaelFriedman,How are you.Some good referenced neighborhoods depending on what your expectations are for buy in, cash flow, deferred maintenance and management of the asset along with the tenant.Your Riverwards Section (You are referencing Port Richmond) bears a different type of asset since there is heavy development from all sides also including $1B of new transportation.

Look for the following things when researching an area, ease of transportation, proximity to major transportation networks (how close to trains, major highways), population growth, income, supply of properties vs demand of properties, growth in value of properties, CAP rate, eviction laws and there is so much more but these are some of the major ones. 

I'm a civil engineer in San Antonio, focused in transportation and structures while working a full time, and currently investing.  

If I buy it on CL, then I need to transport it and install it. 

However, this is a small town with bitter cold winters so public transportation and biking is not ideal. ;)

The downside is that Software is so free and unregulated that getting into something stricter like real estate investing leaves me a lot more "newbie" than you would think for an attorney. 

Hey BP Fam,My friend and I found this property in a great location, awesome neighborhood only a few minutes from NYC, close to local eateries, parks and transportation to neighboring towns.

Paid for it, and the boat was "wrecked" in transport.