Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

Type of a short letter, deliver it by hand, and move forward.

This will then allow me to do a sewer scope if/when the inspector finds a sign of a potential backup.

Snow: I have gone back and forth about what kind of rental I start with.

Quote from @Noah Laker: I'm a real estate broker and my client is a high W2 earner, taking advantage of the "STR Loophole"His CPA told him that he can only do cost segregation on properties which are active STR's.My understanding was that, if he obtains REP status through any one of his properties, that he can take advantage of depreciation on any investment property, even if that one is not an STR.

Where comps come in to to compare "cap Rates"  (a measure of financial performance) of recent sales. 

I ended up building one form zero and built 8 homes and the idea was to make them into a unitque venue.

Not a full fledged house hack, but enough to take the sting out of the rate we got.Not all of Citrus Heights is the same, but the area near Fair Oaks/Orangevale/Carmichael has a good balance of price and quality.

One of the most important lessons in real estate is that you never fall in love with the deal.

Quote from @Todd Knudson: @Ben Trageser, thank you for your kind reply.