@Cory Clay Hello sir, While I do not posses any experience (as i am still in the learning phase of my journey), what I have thus far learned is the %1 or 2% rule and how you use it depends on your goals.

You want to create value and acceleration with your money in the accumulation phase of investing. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Phila.

Purchase price: $225,000

Cash invested: $7,875

So thankful & excited to learn and do more of the same but bigge...

It's probably 5+ years before that's completed though and the second phase, going over to James Island is probably much longer.

This allowance is phased out for taxpayers whose MAGI exceeds $100,000 and eliminated entirely when it exceeds $150,000.

I’m a new real estate investor who is in the learning/planning phase!

Although I wouldn't rely on it solely I would use it as one phase of your rent rate due diligence!

We spent a lot of time waiting for money to move to the next phase.

Everyone is saying 1-2%, but that is for a syndicated deal, where the GP fronts the expenses out of their own pocket such as PPM, Phase I, costs to inspect the asset...I don't see any of that in this deal, so I'd say the proper acquisition fee in this case is 0%.

Could the experienced folks here please share their thoughts on the area and if they have any suggestions that I should keep in mind during this phase?