Would you then further tell him how much was mortgage, and taxes, and whatnot, and how much was return on your investment?

It's your lease that determines who owes what, not who's name the utility is in. 

Also, does this affect how the buyer pays and what not?

She deducts $50k marketing, driving, and whatnot - resulting in $100k net profit. 20% of that amount - or $20,000 - is Susan's new "freebie" deduction.Example 2: Brad the apartment guy collects $300k rent from his property.

I am grateful for this experience however, because I learned what NOT to do when flipping a home.

Interested in learning what the actual process is like, how much underwriting and what not is the broker responsible for, what docs are required so that you get paid the broker fee, etc.  

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris scam and/or Morris Invest scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

If you have any questions, I have plenty of lessons on what and what-not to do as a first time investor fresh in my head!

This makes it good for rentals and what not.

And because short term tenants don't care about things like school districts and what not, it's a good way to get a deal, and have the same superior cashflow.Yes, SAT did pass regulation, but 80% of people aren't registered.