Quote from @Karan Shergill: I just closed on my second property and want to flip it.

They had given a loan for 50% of the value and now they are close to underwater.

We listed without success on Kopa, but they've closed shop.I've heard good things about Zillow rentals but have no personal experience.

Lastly, don't forget to get estoppels when you close, that is the tenant signing off on the current rental amount / funds you have escrowed. 

I would do a cap rate evaluation and try to achieve close to a 8-cap after all expenses. 

Any one close these?

& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.

It is for a ski condo which we closed on in October and have been renovating.

After listening to him talk for close to 45 minutes, I finally said that if I have an extra $18,000 to $35,000 wouldn't I just invest that in my own property and get all of the rental income and if I sold the property 100% of the proceeds, not 50% of it. 

It is typically, raise the rent close to market rent, maybe $150 less, and if we turn the tenant over then we rehab the property and get full market rent.